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Welcome to Minnetonka Loan Program

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The City of Minnetonka offers low-interest loans to assist first-time homebuyers with down payments and closing costs.


Loan terms

  • Income and asset limits apply
  • Maximum of $15,000, one percent interest rate (APR)
  • Home buyer must contribute at least 25 percent of the total down-payment or closing costs
  • Principal and interest are deferred (due upon sale, refinance, transfer of title)
  • Loan is secured by a mortgage on the applicant’s property
  • Closing costs apply


Income limits

Household Size Income Limit
1 $84,000
2 $96,000
3 $108,000
4 $120,000
5 $129,600
6 $139,200
7 $148,800
8 $158,400


Eligible properties

  • Single-family, owner-occupied properties, including town homes and condominiums
  • Property must have an estimated market value at or below $330,100


Other eligibility requirements

  • Home buyer must complete a Home Stretch Workshop
  • Borrower must be a first-time home buyer (has not owned a home within the last three years)


Learn more or apply

To learn more or apply visit the Center for Energy and Environment's website or call 612-335-5884.


The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).