Housing Loans Available To Qualified Eden Prairie Residents

Press release from the City of Eden Prairie:

July 27, 2020

The Housing and Community Services Division assists residents of Eden Prairie with several types of housing loan programs offering zero-interest, deferred and forgivable loans.

First-Time Homebuyer Program
Zero-interest, deferred loans up to $10,000 are available to qualifying first-time homebuyers purchasing a home in Eden Prairie – funds 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).

First-Time Homebuyer Eligibility and Application

Senior Emergency Repair Program
Forgivable loans up to $5,000 are available to qualifying residents age 60 or older, who are an owner-occupant of a home in need of emergency repairs – funds can be used for repairs to water heaters, furnace, central air conditioning units or accessibility upgrades such as grab bars and handrails.

Senior Emergency Repair Eligibility and Application

Housing Rehabilitation Loan Program
Zero-interest, deferred loans up to $15,000 are available to qualifying low and moderate-income households to maintain, repair and improve Eden Prairie homes – funds can be used for new roofs, siding, windows, electrical, plumbing, heating and insulation.

Housing Rehabilitation Loan Eligibility and Application

This press release was produced by the City of Eden Prairie. The views expressed here are the author’s own.