As a HUD-approved housing counseling provider, PRG’s Homebuyer programs fulfill requirements for several homebuyer assistance programs. While we are not the funder of these programs, we’re happy to help you navigate various opportunities. Current programs include:
HOM Downpayment and Closing Cost Assistance
Homeownership Opportunity Minneapolis (HOM) Down Payment and Closing Cost Assistance will be available to homebuyers purchasing a home in Minneapolis beginning October 15, 2016.
- $7,500 for borrowers with household incomes at or below 80% of area median income (currently $65,700 for a household of four)
- $5,000 for borrowers with household incomes greater than 80% of area median income up to a maximum income of 115% of area median income (currently $98,670 for household of four)
Homebuyers must complete homeownership and financial counseling through a designated HOM Financial Counselor. Homebuyers must have a financial counseling certificate that predates their purchase agreement and must also complete homebuyer education to be eligible to apply.
- PRG is a designated Financial Counselor for the HOM program.
You could receive up to $7,500 to help you buy a home through the NeighborhoodLIFT® program. The amount you receive is based on the amount you’re able to put toward the purchase of a home in the city limits of Minneapolis or St. Paul.
The NeighborhoodLIFT program requires Homebuyer Education, either HomeStretch Workshop or pre-purchase counseling.
- PRG is an approved pre-purchase counseling provider for the NeighborhoodLIFT program (this is required if you take Framework pre-purchase course online).
- PRG’s HomeStretch course is approved for the NeighborhoodLIFT program.