Information and resources about Minnesota Housing purchase, refinance and downpayment and closing cost assistance programs for participating Minnesota Housing Homeownership Program Lenders.
Access to online manuals, forms, worksheets, guides and resources to help Minnesota Housing lenders work with and originate Minnesota Housing Homeownership Program Loans.
Start Up is our statewide mortgage program for eligible first-time homebuyers, available through participating lenders. Start Up offers:
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Step Up is our statewide program for repeat homebuyers or current homeowners to purchase or refinance a home. Step Up offers:
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One Unit
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Two Unit
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11-County Metro
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$515,200
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$659,550
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All Other Counties
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$472,030
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$604,400
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- Monthly Payment Loan:
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Available with Start or Step Up
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Up to $17,000
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Fully amortized over 10 years
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Interest rate equal to first mortgage rate
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Additional eligibility requirements apply.
- Deferred Payment Loans:
- Available with Start Up only
- Up to $12,500 with Deferred Payment Loan or $15,000 with Deferred Payment Loan Plus
- Interest-free deferred loan for length of first mortgage term
- Repayment of the full loan balance is required (a balloon payment) when:
- The borrower moves
- The home is sold
- The first mortgage loan is refinanced (unless refinancing with our Step Up Program)
- The first mortgage loan is paid off (prior to or at the end of the loan term)
- Additional eligibility requirements apply.
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Minnesota Housing offers several HFA conventional mortgage products that must be layered with one of our Mortgage Loan Programs, offering the reduction or elimination of mortgage insurance (MI) costs with options available up to 97% LTV.
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