Single Family Program Descriptions
Start Up First-time Homebuyer Loan
Start Up loans for first-time homebuyers offer affordable interest rates and downpayment and closing cost assistance for eligible borrowers. The loans are originated by participating first mortgage lenders throughout the state.
Step Up Non-first-time Homebuyer Loan
Step Up loans help existing homeowners refinance or purchase a new home. It offers affordable interest rates through a statewide networks of approved lenders.
Homeownership Assistance Fund (HAF)
HAF provides downpayment and closing cost assistance to income-eligible first-time homebuyers purchasing their homes through an Agency first mortgage program. HAF loans are deferred second mortgage loans with no interest.
HOME Homeowner Entry Loan Program (HOME HELP)
HOME HELP is interest-free deferred funding to assist eligible homebuyers with downpayment and closing costs. Assistance is available to first-time buyers under Minnesota Housing’s CASA first mortgage program.
Habitat for Humanity Initiatives
Minnesota Housing has provided funding to Habitat for Humanity to help provide loans at no interest to qualifying low-income homebuyers through Habitat affiliates in the state.
Homeownership Education, Counseling, and Training (HECAT)
HECAT provides financial support to eligible nonprofit organizations or public agencies offering comprehensive homebuyer/owner training on a pre- or post-purchase basis. Funds also may be used to provide counseling services to individuals facing foreclosure. HECAT resources include federal NeighborWorks funding for foreclosure prevention counseling and resources from other funding partners.
Emergency HomeOwners’ loan program (EHLP)
EHLP is federally funded counseling and mortgage payment relief for up to 24 months to eligible homeowners who have experienced a decline in income due to unemployment or underemployment or as a result of a medical emergency. (In run-off.)
Home Improvement Programs
Home Improvement Loan Program
The Home Improvement Loan Program finances below-market interest rate, fully-amortizing home improvement loans to low- and moderate-income homeowners to improve the livability and energy efficiency of their homes.
Rehabilitation Loan Program
The Rehabilitation Loan Program provides deferred loans at no interest to low-income homeowners to fund repairs directly affecting the safety, habitability, energy efficiency or accessibility of their homes. The program is administered by local agencies.