Homeownership assistance fund

The homeownership assistance fund works to reduce barriers to homeownership through capital funding and down payment assistance.

Funding is awarded annually through the Coordinated affordable housing development RFP webpage.

Hennepin County’s homebuyer assistance program

Hennepin County’s countywide homebuyer assistance is currently out of funds until summer 2026. People interested in buying their first home can find more information at NeighborWorks, or by contacting NeighborWorks at hello@nwhomepartners.org or 651-292-8710.

Background

In 2020, the Hennepin County Housing and Redevelopment Authority (HCHRA) piloted a direct homebuyer assistance program with a goal to reduce homeownership barriers. This pilot helped 20 Hennepin County residents purchase their first home, 85% of whom identified as African American. The pilot was administered by a housing nonprofit. 

In 2021, the County Board authorized $46,000,000 in one-time pandemic recovery funding for housing recovery strategies. This included $3.3 million for homebuyer assistance programs targeting populations disproportionately impacted by the COVID-19 public health emergency. With this additional funding, the HRA financed three times more homeownership units in 2022 than in previous years.

Finally, in 2023, the HCHRA launched its first designated fund for homeownership assistance, constituting its largest annual investment in homeownership. The goal of this program is to facilitate new affordable homeownership opportunities through capital funding or down payment assistance.