City of St. Louis Park – Live Where You Work Homeownership Program
This program is aimed at employees of St. Louis Park based-businesses with a grant towards the purchase of a home near their place of work. The city will provide a grant of up to $2,500 for each available employee, while employers are encouraged to contribute a matching or lesser amount. The employee needs to obtain a mortgage from a participating lender. The grant can be used to finance the down payment, gap financing, or closing costs.
This program is aimed at giving employees a home close to their job, which in turn will increase employee loyalty, morale, retention, punctuality based on home to work proximity, as well as creates a positive building experience between employee and employer.
This program is meant to encourage shorter commutes, revitalize neighborhoods and make homeownership more affordable. Considering that, this is an opportunity for foreclosed St. Louis Park properties to be occupied by homeowners. Qualified buyers looking at foreclosed properties would be eligible for an extra $1,000 grant.
- Grants available up to $2,500 for qualified applicants.
- Applicant must work in St. Louis Park and find a house within the city limits.
- Must take work with one of the participating lenders.
Buying your first home can be overwhelming. Let us help! We are committed to finding you any grant monies or assistance programs available to you. Our buyer agent services are FREE! Please contact us for more information. We have assisted hundreds of first time home buyers and look forward to the opportunity to assist you!