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How it Works

From first-time buyers to current homeowners, Minnesota Housing has an affordable loan program to meet your needs. Follow these steps to get started:

1. Attend homebuyer education

If you’re planning to purchase a home, homebuyer education or counseling is a great place to start. Your homeownership advisor will teach you about the process, answer your questions, and help you make smart decisions. Homebuyer education is required for some of our loan programs. Learn more about available online and in-person options.

2. Contact a lender

Contact a Minnesota Housing participating lender to discuss your needs, learn more about which program is right for you, and start the pre-qualifying process.

3. Learn more about Minnesota Housing’s loan options

All borrowers must qualify for an underlying mortgage product (FHA, VA, RD, Conventional). Minnesota Housing loan programs are then layered on top to provide you with additional benefits. If eligible, you can also add a downpayment and closing cost loan when you receive a Minnesota Housing loan.

I’m a first-time homebuyer (or have not owned a home in the past three years):

I’m a repeat homebuyer (currently own or owned in the past three years and want to buy a different home):

I want to refinance my home:

4. Find a home

If you’re purchasing, work with a real estate professional to find the right home for you. The home you purchase or refinance must fall within the following purchase price limits:

11-County Metro: $306,000
Balance of State: $253,800

You’ll also want to get a home inspection before you purchase. This process will be covered in your homebuyer education course.

5. Mission accomplished!

Finish up the paperwork, close on your loan, grab those keys, and celebrate your accomplishment. Let us know how it went by sharing your success story.