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
- 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.