№ lp_2_3_48749
Program guidelines outlining eligibility criteria, loan terms, property requirements, and application procedures for a deferred down payment assistance initiative administered by NeighborWorks Home Partners in the five-county metro area.
Program Name: Community Keys Plus – Down Payment Assistance Program
Date Updated: 09/19/2023
Program Overview: Down payment and closing cost assistance for homebuyers in selected census tracts within the five-county metro area
Loan Amount: Up to $10,000
Eligible Use of Funds: Down payment and closing costs (excluding points and appraisal shortages)
Funding Availability: First come/first served with fully signed purchase agreement
Minimum Buyer Investment: $1,000 or 1% of purchase price from verifiable own funds
Interest Rate: 0%
Repayment Terms: Deferred loan, due upon sale, transfer of title, or when property is no longer primary residence
Loan Security: Mortgage in favor of NeighborWorks Home Partners
Applicant Income Limit: At or below 80% of Area Median Income (AMI) based on household size
Education Requirements: 8 hours of homebuyer education and 1 hour pre-purchase advising; Landlord Education required for duplex, triplex, or four-plex purchases
Occupancy Requirement: Property must be owner-occupied as primary residence for the life of the loan
Property Eligibility: Selected census tracts in Hennepin, Ramsey, Washington, Dakota, and Anoka counties
Application Requirement: Fully executed purchase agreement prior to application
Processing Timeline: Approximately 35 days to close after complete application submission
Disbursement Method: Loan funds wired to Title Company; documents signed at first mortgage closing; no cash back at closing
Administering Organization: NeighborWorks Home Partners
Contact Email: [email protected]
Contact Phone: 651-292-8710
Price: 8 / 10 USD
The file will be delivered to the email address provided at checkout within 12 hours.

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