Text Box: Program Guidelines & Requirements: Property Location Requirements: Property must be located in Saint Paul. Eligible Property: 1-4 Single Family Residence; Condo; Townhouse Maximum Value: One Unit— $221,160, Two Unit—$249,096, Three Unit—$302,640, Four Unit—$349,200 Occupancy: Owner Occupied - Primary Residence Time to Process Application: Applications must be received two (2) weeks prior to the closing date. Fees: $100 Document Prep. Fee, $25 Courier Fee, $25 Money Wire, Fee $100 Loan Servicing Fee Qualified Borrower: Must be approved for a conforming mortgage at or below market rate. 1st mortgage approval must be obtained prior to making application for this assistance program with CNHS. Household Income Limits: Total household income must be less than or equal to 80% of the Area Median Income (city wide). $40,600– 1 Person; $46,400– 2 Person; $52,200– 3 Person; $58,000– 4 Person *for larger household size income limits call. or 115% of median income in the following Saint Paul Planning Districts: (3) West Side, (5) Payne-Phalen, (6) North End, (7) Thomas-Dale, (8) Summit-University, (9) W 7th (Fort Rd) $62,200—1 Person; $70,850—2 Person; $79,700—3 Person; $88,550—4 Person *for larger household size income limits call. Loan Amount: Based on need up to $3,000 (minimum $1,000) Determined by 1st Mortgage Lender. Cumulative Loan-to-Value: Determined by 1st Mortgage Lender This loan is recorded as a lien on the property. Rate and Term: This is a Due On Sale loan at 0% interest and 0 payments as long as the borrower(s) owns and occupies the property. The Loan becomes due and payable for the original amount borrowed when either the property is sold (loan is Not assumable), refinanced or when the original 1st mortgage is paid in full. Home Buyer Education Workshop/Counseling Required? Yes. Must complete an Approved Home Buyer Education Workshop and provide CNHS with a copy of the Completion Certificate. Must be a first time Home Buyer? No. May not own any other real estate. Minimum Down Payment: Determined by 1st Mortgage Lender Borrower’s Minimum Investment: Determined by 1st Mortgage Lender Seller Points Required? No This CNHS program has been approved with Fannie Mae. Program and guidelines are subject to change.

Down Payment/Closing Cost Assistance

Community Neighborhood Housing Services

Promoting community development through education and affordable housing programs.

To request additional information about the Down Payment/Closing Cost Assistance Program or to apply for the program, please click here