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Income Limits for Minnesota Housing Mortgage Programs

Start Up/Mortgage Credit Certificate/Step Up
 

Household Size

11-County Twin Cities Metro Area*

Rochester MSA**

Balance of State

1-2 Person

$83,900

$81,300

$73,900

3+ Person

$96,485

$93,495

$84,985

 

Deferred Payment Loan (Only available with Start Up First Mortgage Loans)

Updated Income Limits:  The following income limits are effective for existing and new Deferred Payment Loan commitments as of April 1, 2014:

Household Size

11-County Twin Cities Metro Area*

Rochester MSA**

Balance of State

1-4 Person

$60,000

$60,000

$55,000

5 Person

$64,800

$64,800

$59,400

6 Person

$69,600

$69,600

$63,800

7 Person

$74,400

$74,400

$68,200

8 Person

$79,200

$79,200

$72,600

9 Person

$84,000

$84,000

$77,000

10 Person

$88,800

$88,800

$81,400

 
 The following income limits are effective for Deferred Payment Loans (DPL) closed prior to April 1, 2014 or closed after April 1, 2014 using the DPL Note and Mortgage forms with version date 1/15/2014:
 

Household Size

11-County Twin Cities Metro Area*

Rochester MSA**

Balance of State

1-4 Person

$50,000

$50,000

$40,000

5 Person

$54,000

$54,000

$43,200

6 Person

$58,000

$58,000

$46,400

7 Person

$62,000

$62,000

$49,600

8 Person

$66,000

$66,000

$52,800

9 Person

$70,000

$70,000

$56,000

10 Person

$74,000

$74,000

$59,200

 
*The 11-county Twin Cities Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.

**Rochester MSA includes Dodge and Olmsted Counties


HOME HELP (Only available with Start Up First Mortgage Loans)

The following income limits are effective for HOME HELP loans committed on or after December 18, 2012:

2013 HOME HELP Income Resource Sheet - effective 3/15/2013
 

Monthly Payment Loan (Available with Start Up, Mortgage Credit Certificate (with First Mortgage), and Step Up Loans)
(Not available with the Mortgage Credit Certificate (Stand-Alone) option)

Use Start Up/Mortgage Credit Certificate/Step Up Loan Income Limits shown above