The Plymouth Housing and Redevelopment Authority offers a zero interest deferred loan up to $35,000 for qualifying first-time homebuyers purchasing a home in Plymouth.

• Financial assistance can be used for up to 50% of the required down payment not to exceed $5,000, 100% of eligible closing costs up to $7,500, and for reduction of the mortgage principal up to 15% of the purchase price not to exceed $30,000.
• Repayment of the loan is required if the home is sold or no longer homesteaded within the first 30 years of ownership. After 30 years, the loan becomes due and payable.
• Applicants will be accepted on a first-come, first-serve basis.
• Program guidelines and income requirements are subject to change.

Eligibility Criteria

• Must be a first-time homebuyer – have not owned a home in the last three years or have been displaced due to a divorce. 
• Must buy a home in Plymouth. 
• Must register and attend all home buyer training sessions prior to closing. 
• Must use only a participating lender for your primary mortgage. 
• Household income must not exceed the maximum income limits by household size. This is based on your gross earnings and includes all income received, such as wages, child support, alimony, etc. Income limits are revised yearly.

• First-Time Homebuyer Application (PDF) 
• First-Time Homebuyer Program Guidelines (PDF)

Contact

Housing Division
Plymouth City Hall | 3400 Plymouth Blvd. | Plymouth, MN 55447-1482
P 763-509-5410 | F 763-509-5407 | housing@plymouthmn.gov

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