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Affordable Housing

Posted on: August 22, 2023

Income and Purchase Price Limits Rise on Downpayment Assistance Program

The Edina Housing Foundation (EHF) has expanded the Come Home 2 Edina home downpayment assistance program by raising the allowable home price, maximum loan amount and income limits to qualify.

  • New allowable maximum purchase price: $515,200
  • Maximum downpayment assistance: $90,000
  • Income limits to qualify: Up to $124,200 for 1 and 2 person households or $142,800 for 3+ person households
  • First Generation Homebuyers downpayment assistance amount that is forgiveable: $20,000

Please note:

  • The Come Home 2 Edina loan cannot exceed 25 percent of the purchase price
  • The Come Home 2 Edina subordinate loan will be sized assuming the borrower contributes at least 25% of gross monthly qualifying income toward monthly payments for principal, interest, taxes, insurance, association dues, and/or land trust fees before EHF’s assistance can be used.

Come Home 2 Edina program
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