What is the Inheritance Fund?
Through the Inheritance Fund, qualifying descendants can receive between $50,000 and $110,000 in downpayment assistance to purchase a home in Saint Paul to address lost generational wealth.
The exact amount of assistance varies based on the homebuyer's income. Homebuyer households with incomes below 100% of Area Median Income (AMI) are eligible for $50,000 in Inheritance Fund downpayment assistance, and homebuyers with household incomes below 80% of Area Median Income (AMI) are eligible for up to $90,000. Homebuyers who have first generation homebuyer status are eligible for an additional $10,000, or up to $100,000 total.
If a direct descendant of a property owner displaced by I-94 construction purchases a home within the boundaries of historic Rondo; or a West Side Flats descendant purchases a home within the West Side Planning District, they will receive an additional $10,000 in assistance, or up to $110,000 total. These additional funds recognize the lost community wealth being addressed with the homebuyer’s investment in the historic Rondo and West Side communities.