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 $5,000 to help borrowers with down payment or closing costs

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

If you:

Are a first-time homebuyer
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:

The HOME HELP loan is a deferred interest-free loan, which must be fully repaid within the first six years of the loan if the borrower sells or vacates the property. After the sixth year, 70% of the loan is forgiven and the remaining 30% of the HOME HELP loan amount is repaid when the loan matures, the property is sold, or is no longer owner-occupied.
Homeowner Entry Loan Program (HOME HELP) - Frequently Asked Questions (FAQs).

Contact an approved HOME HELP lender in the Twin Cities Metro Area or Greater Minnesota to apply.

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First Time Homebuyer Downpayment and Closing Cost Assistance

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