Homeownership Access Fund
To help repair egregious homeownership disparities, Housing in Action has launched a down payment assistance program called the Homeownership Access Fund.
Down Payment Assistance for North Minneapolis
The Homeownership Access Fund is intended to serve current or past North Minneapolis residents seeking to purchase a home in North Minneapolis. This assistance is in the form of up to a $20,000 grant—this is a stackable grant that can be used towards down payment and closing costs, including prepays and principle reduction.
The Homeownership Access Fund is funded through private donations, with a goal of redistributing $200,000 by the end of 2025. If you’d like to help fund this program, please reach out to Paul Vliem, Resources & Relationships Director, at PaulV@urbanhomeworks.org.
Housing in Action is NOT currently taking applications for the Homeownership Access Fund.
Timeline & Process
- 1. HIA staff will review applications in the order in which they are received.
- 2. If selected, an HIA staff member will contact you to schedule an informal interview about your application.
- 3. Proof of homeownership class completion is required before funds can be disbursed.
- 4. Proof of an accepted offer in the designated North Minneapolis neighborhoods must be provided before funds can be disbursed.
- 5. Funds will be wired to the title company on the day of closing.
Applicants Must Be
- 1. A first-time homebuyer (“First-time homebuyer” is defined as someone purchasing their first-ever home, OR someone who hasn’t owned a home in the last six years.)
- 2. Currently living in or displaced from the following North Minneapolis neighborhoods: Harrison, Near North, Jordan, Willard-Hay, Hawthorne, Sumner-Glenwood, Cleveland, Folwell, McKinley, Webber-Camden. (If displaced, proper verification will be needed to prove prior residence in this neighborhood.)
- 3. Seeking to purchase a home in one of the following North Minneapolis neighborhoods: Harrison, Near North, Jordan, Willard-Hay, Hawthorne, Sumner-Glenwood, Cleveland, Folwell, McKinley, Webber-Camden.
- 4. Property Eligibility: single-family home, 1-4 unit detached, townhome, condominium, co-op, and manufactured homes titled as real property in the following North Minneapolis neighborhoods: Harrison, Near North, Jordan, Willard-Hay, Hawthorne, Sumner-Glenwood, Cleveland, Folwell, McKinley, Webber-Camden.
Once all criteria are met, priority will be given to current Housing in Action residents.
Apply for the Homeownership Access Fund!
Housing in Action is *NOT* currently taking applications for the Homeownership Access Fund.
Have questions or want to learn more?
For questions or more information about this program, please reach out to Temi Ogunrinde, Equity & Engagement Director.