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First-Time Homebuyer Program

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The City of Eden Prairie offers a zero-interest, deferred loan up to $10,000 for qualifying first-time homebuyers purchasing a home in Eden Prairie.

  • Financial assistance can be used for part of the required down payment (up to 50%), closing costs (up to $5,000) and mortgage principle reduction (up to 10% of the purchase price or $10,000).
  • Repayment of the loan is required if the home is sold or no longer homesteaded within the first 30 years of ownership; after 30 years, the loan becomes due and payable.
  • Applicants are accepted on a first-come, first-served basis (see application below).
  • Program guidelines and income requirements are subject to change. 
Eligibility Criteria
  • Must have a signed purchase agreement before applying. 
  • Must be a first-time homebuyer — have not owned a home in the last three years or have been displaced due to a divorce. 
  • Must buy a home in Eden Prairie. 
  • Must complete a homebuyer training course with Community Action Partnership of Suburban Hennepin or Framework before closing. 
  • Must use a participating lender for the primary mortgage. 
  • Household income must not exceed $100,000 (income limits may change at any time).

For more information contact Jeanne Karschnia at 952-949-8486.

Related Information
First-time Homebuyer Guidelines [PDF]
First-time Homebuyer Application [PDF]

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