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Step Up for Repeat Homebuyers and Homeowners

Step Up is our statewide program for repeat homebuyers or current homeowners to purchase or refinance a home. Step Up offers:

  • Affordable interest rates
  • Downpayment and closing cost assistance loan for eligible borrowers
  • Income limits up to $135,100
  • Purchase price/loan amount must fall under the following limits:
    • 11-County Metro: $306,000
    • Balance of State: $253,800
  • Reduction or elimination of mortgage insurance (MI) costs with exclusive conventional loan options, available up to 97% LTV
    • Fannie Mae HFA PreferredTM/UPMI-Conventional insured product available with lower MI rates and no loan level pricing adjustments.
    • Fannie Mae HFA Preferred Risk SharingTM - Allows borrowers to avoid MI altogether.
    • Freddie Mac HFA AdvantageSM/UPMI - Conventional insured product available with lower MI rates and no loan level pricing adjustments.
    • Conventional Cash to Close Grant - Allows conventional loan borrowers with incomes at or below 80% AMI by county to receive third party grants for cash to close. Limited time program. Conventional Cash to Close Grants used with Fannie Mae loans must close by December 31, 2017 and be purchased by U.S. Bank by February 15, 2018. Conventional Cash to Close Grants used with Freddie Mac loans will be available into 2018.

Manuals, Forms & Resources

Required Forms (in addition to industry-standard documents)