Consumer Housing

First Time Homebuyer Downpayment and Closing Cost Assistance

Minnesota Housing provides the opportunity for eligible homebuyers who qualify for a Minnesota Housing loan to receive an interest-free, deferred loan to help with downpayment and closing costs through the Homeownership Assistance Fund (HAF) and the HOME Homeowner Entry Loan Program (HOME HELP).

First time homebuyers interested in downpayment and closing costs assistance should contact a Minnesota Housing participating lender prior to signing a purchase agreement. Participating lenders can determine the level of eligibility.

Am I Eligible for the Homeownership Assistance Fund (HAF)?

If you meet one of the following criteria:

Borrowers eligible for the CASA program
Qualify as an eligible target market
Household earning 60% (or less) of area median income

You may be eligible for the Homeownership Assistance Fund.

What type of HAF assistance may be available:

HAF Entry Cost Assistance provides up to $3,000 to help borrowers with down payment or closing costs
HAF Monthly Payment Assistance provides up to $75 per month to help pay a portion of the monthly mortgage payment in the early years of the mortgage (available only with the Community Activity Set-Aside Program).

Am I Eligible for the HOME Homeowner Entry Loan Program (HOME HELP)?

If you:

Are eligible for the CASA program
Have an income at or below Minnesota Housing HOME HELP program limits
Qualify as an eligible target market for one of the CASA Community Initiatives in either the Twin Cities Metro Area or Greater Minnesota approved to offer HOME HELP

You may be eligible for the HOME Homeowner Entry Loan Program (HOME HELP).

What type of HOME HELP assistance may be available:

Interest free, deferred loan with repayment of the full loan amount in the first five years of the loan;
After the first five years, 30% of the initial loan amount is due upon maturity of the CASA first mortgage.

Consumer Housing

Form Finder

First Time Homebuyer Downpayment and Closing Cost Assistance

Section Navigation