Make Woodbury, MN, Your Home with Down-Payment Assistance for First-Time Homebuyers
To encourage homeownership for low- to moderate-income households, the City of Woodbury’s Housing and Redevelopment Authority offers purchase assistance for first-time homebuyers.
Loans of up to 3.5% of the purchase price are available at a fixed 3% interest rate. In addition, veterans and adults over 65 years qualify for a 2.75% rate, and first-generation buyers receive a 0% interest rate.
Who is Eligible? A first-time homebuyer is a household that has never owned a home or has not owned a home in the last three years. First-generation homebuyers have never owned a home; their parent or legal guardian does not currently own a home, nor have they owned a home in the past.
Take Your First Step Working with your primary lender, reach out to the Washington County CDA to determine eligibility. Ask about HUD-approved homebuyer education and advising services.
Learn More The Washington County Community Development Agency (CDA) administers this First-Time Homeownership Program on behalf of the City of Woodbury HRA.
This program provides down-payment assistance loans to homebuyers purchasing their first home in Woodbury, MN. The First-Time Homeownership Program provides down-payment assistance loans of up to 3.5% of the home’s purchase price. These loans are offered as 30-year deferred loans with interest-only payments required during the loan term. Veteran and senior households (65 years and older) are eligible for a discounted rate of 2.75%. First-generation homebuyers are eligible for a 0% interest loan with no required interest payments during the loan term.
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