Three Rivers Community Action’s Gap Financing program helps eligible buyers in Southeastern Minnesota with down payment and closing cost assistance. Buyers can qualify for up to $20,500 based on individual household need. Funds are in the form of 0% interest, deferred payment loans (no payment for 30 years or until you sell your home).


  • The property must be located in one of the 20 counties of southeastern Minnesota.
  • The program targets underserved households, including households of color or ethnic minorities.
  • Buyers must be below 80% of the statewide median income, based on family size.
  • Buyers must complete an eight-hour Home Stretch homebuyer education class.

  • Buyers must be able to qualify for a first mortgage that meets program guidelines (long-term, fixed interest rate).
  • Buyers must have a signed purchase agreement.
  • Be a first-time homebuyer.
  • See Program Guidelines for full list of terms and requirements.

The program is funded by Greater Minnesota Housing Fund and the Minnesota Housing Finance Agency through the Impact Fund. We are unable to do pre-approvals for Gap Financing. Funding is limited and cannot be guaranteed until all application materials are submitted and approved.

How to Apply

Gap Financing application documents are kept up to date on our website. Applications and all supporting documents listed on application instructions must be received at least 4 weeks prior to closing date.

How to find an affordable first mortgage:

Due to our limited availability of funds, buyers are required to apply for all resources available before applying for Gap Financing. Buyers can visit MN HousingRural Development and FHLB’s websites to find lenders with affordable mortgage products and if eligible access state and federal downpayment assistance programs.

Buyers are also encouraged to meet with one of our Homeownership Advisors for pre-purchase coaching.

Already a borrower?

For Three Rivers Community Action Impact Fund loan borrowers in need of payoff information or subordination requests please contact the loan’s servicer AmeriNat at 1-800-943-1988.

Mortgage Lenders

Please contact us at and to learn how you can help your eligible buyers use Gap Financing!