Homebuyer Assistance
Thank you for your interest in the FirstHome Down Payment Assistance Program. We are currently out of funds and are no longer accepting applications for the First-generation or First-time home buyer loans. Please check this website or email [email protected] for updates on when the program will reopen.
Eligible suburban cities
- Arden Hills
- Falcon Heights
- Gem Lake
- Lauderdale
- Little Canada
- Maplewood
- Mounds View
- New Brighton
- North Oaks
- Roseville
- Saint Anthony
- Shoreview
- Vadnais Heights
- White Bear Lake
- White Bear Township
Homebuyer requirements
First-time buyer(s) – a household who has not had an ownership interest in a principal residence in the last three years.
- May qualify for a loan up to $20,000 for down payment or closing costs with 0% deferred loan interest, due upon sale.
- Must earn at or below 80% Area Median Income (AMI), according to household size.
First-generation homebuyer(s) – a household where the borrower(s) or their parent(s) cannot have owned a home in their lifetime.
- May qualify for a loan up to $93,150 for down payment or closing costs with maximum loan 25% of home purchase price. Loan principle forgiven at 5% per year for a 20-year period.
- Must earn at or below 80% AMI with 1-3 household members. Buyer(s) with 4 or more household members must be at or below 100% AMI.
- Must sign a document stating they have never owned a home and their parents have never owned a home.
General requirements
- The FirstHome program requires that all parties to the mortgage be owner-occupants and that the incomes of all household members over the age of 18, including co-signers, be included in the calculation of income eligibility for buyer assistance.
- A minimum investment of 1% of the purchase price is required from the buyer, with consideration of earnest money. This principal-only subordinate mortgage must be repaid when the property is sold.
- New and existing single-family detached homes, condos, townhouses and duplexes are eligible for FirstHome assistance. The home must be inspected by an ASHI or InterNACHI certified inspector.
- Buyers should be able to qualify for a Veterans Administration, Federal Housing Administration, or Fannie Mae-approved conventional mortgage as determined by the private lender, or they must meet the requirements of locally approved initiatives designed to meet affordable housing needs in suburban Ramsey County.
- Buyers must successfully complete an approved homebuyer class and homeownership advising, through the Homeownership Center approved agency before conditional acceptance can be granted and FirstHome funds can be reserved.
Lender information
The following forms are required. Most have been revised, and where possible are now fillable forms.
- FirstHome - Policies and Procedures (PDF)
- FirstHome - Income Verification Release and Data Privacy Notice (PDF)
- FirstHome Wire Request (PDF)
- FirstHome W-9 form (PDF)
First-time buyer(s)
FirstHome - Reservation & Application - First-time Homebuyer.docx- FirstHome- First-time- Disclosure and Certifications (PDF)
- FirstHome- First-time- Income Determination Worksheet (Word)
- Ramsey County FirstHome- First-time- Homebuyer Agreement (PDF)
- FirstHome - Zero Income Certification (PDF)
- FirstHome - Authorization for Release of Information (PDF)
First-generation buyer(s)
- FirstHome - Reservation & Application - First-generation Homebuyer.docx
- FirstHome- First-generation- Disclosure and Certifications (PDF)
- FirstHome- First-generation- Income Determination Worksheet- 80% (Word)
- FirstHome- First-generation- Income Determination Worksheet- 100% (Word)
- Ramsey County FirstHome- First-generation- Homebuyer Agreement (PDF)
- FirstHome Attestation Form (PDF)
- FirstHome - Zero Income Certification (PDF)
- FirstHome - Authorization for Release of Information (PDF)
Other information
- Participation in the program is available to all legitimate lenders, especially lenders who may be working with “emerging market” clientele.
- Ramsey County staff will work with the lender who is responsible for evaluating client eligibility, verifying household income, etc., the buyer and title company to assure that program requirements are addressed, and making documentation available for review by FirstHome program staff, HUD and related designees.
- Lenders may reserve funds on behalf of eligible buyers for up to 60 days while they look for a house.
- Lenders should complete and forward the Wire Request Form at least 14 days prior to the scheduled closing date.
- Forms may be sent electronically, especially the appraisal and longer documents.
Prior to issuing a FirstHome payment, the file must include:
- Reservation /Application and the HUD 1003 and 1008.
- FirstHome Income Determination Worksheet
- FirstHome Disclosure and Certifications.
- Buyer-Seller Voluntary Transaction Certification.
- Copy of the property appraisal.
- Copy of the property inspection conducted by an approved inspector.
- Buyer’s HomeStretch or Framework homebuyer education completion certificate.
- Copy of the final closing disclosure at least 3 business days before closing.
On closing, the lender is responsible for assuring that the title company forwards the original note, final settlement statement, warranty deed and a copy of the recorded second mortgage to FirstHome staff.