Interest Rates

Interest Rates Effective 4/20/2018 at 10:00 a.m.
 
Interest rates are subject to change at any time without advance notice.

Start Up Loan Interest Rates for First-time Homebuyers

 
Government
Conventional
 
FHA / VA / RD*
HFA Preferred™ (Fannie Mae)
HFA Advantage
? (Freddie Mac)
Insured and Uninsured
HFA Preferred™
HFA Advantage
?
Upfront Paid MI
Insured
HFA Preferred Risk Sharing™
(Fannie Only)
Uninsured
 
1%
Origination Fee**
0%
Origination Fee**
1%
Origination Fee**
0%
Origination Fee**
1%
Origination Fee**
1%
Origination Fee**
Start Up
First Mortgage
4.625 %
4.875 %
5.000 %
5.250 %
5.500 %
5.500 %
Start Up
First Mortgage with
Deferred Payment Loan
4.625 %
4.875 %
5.000 %
5.250 %
5.500 %
5.500 %
Start Up
First Mortgage with
Monthly Payment Loan
4.625 %
4.875 %
5.000 %
5.250 %
5.500%
5.500 %
*RD loan product only available with a 30-year term.
**Customary and reasonable discretionary fees are allowable.
Note: Rates include loan-level price adjustments (LLPA).

Step Up Loan Interest Rates

 
Government
Conventional
 
FHA / VA / RD*
HFA Preferred™ (Fannie Mae)
HFA Advantage
? (Freddie Mac)
Insured and Uninsured
HFA Preferred™
HFA Advantage
?
Upfront Paid MI
Insured
HFA Preferred Risk Sharing™
(Fannie Only)
Uninsured
 
1%
Origination Fee**
0%
Origination Fee**
1%
Origination Fee**
0%
Origination Fee**
1%
Origination Fee**
1%
Origination Fee**
Step Up
Purchase or Refinance First Mortgage
15 Year Term
4.375 %
NA
NA
NA
NA
NA
Step Up
Purchase or Refinance First Mortgage
15 Year Term
Monthly Payment Loan
4.375 %
NA
NA
NA
NA
NA
Step Up
Purchase or Refinance First Mortgage
30 Year Term
4.625 % 4.875 % 5.000 % 5.250 % 5.500 % 5.500%
Step Up
Purchase or Refinance First Mortgage
30 Year Term
Monthly Payment Loan
4.625 %
4.875 %
5.000 %
5.250 %
5.500 %
5.500 %
*RD loan product only available with a 30-year term.
**Customary and reasonable discretionary fees are allowable.
Note: Rates include loan-level price adjustments (LLPA).

Fix Up Loan Interest Rates for Home Improvements

 
Unsecured
Rate
Subordinate Lien
Interest Rate
First-Lien
Interest Rate**
Fix Up Loan Secured
N/A
5.990 %
4.25 %
Fix Up Loan Unsecured*
6.990 %
N/A
N/A
Community Fix Up Loan
N/A
5.750 %
4.25 %
Energy Incentive Loan
4.990 %
4.990 %
N/A
Accessibility Loan
N/A
4.990 %
4.25 %
*For unsecured loans: There is a 0.50% interest rate reduction from the rate listed above for borrowers who agree to sign up for ACH auto-pay at time of loan closing. This does not apply to the Energy Incentive Unsecured loan.
**For loans using the first lien interest rate: The combination of the interest rate and loan repayment term may not cause the annual percentage rate (APR) for the loan to exceed the first lien position rate noted above by more than 0.49%.
 

In connection with Single Family Division loan programs, Minnesota Housing does not make or arrange loans. It is neither an originator nor creditor and is not affiliated with any Lender. The terms of any mortgage finance transactions conducted in connection with these programs, including important information such as loan fees, the annual percentage rate (APR), repayment conditions, disclosures, and any other materials which are required to be provided to the consumer are the responsibility of the Lender.

Multifamily Rates

View rates for Multifamily products and programs.