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Minnesota Housing Current Interest Rates*

Single Family Programs

As of 4:00 p.m. on Wednesday, September 1, 2010 interest rates for Minnesota Housing's Single Family First-Time Homebuyer programs are as follows: 

 Program

 Government Interest Rate

 Conventional Interest Rate

Discount Points

Minnesota Mortgage Program (MMP)

3.750%

4.125%

0

Affordable Advantage

N/A

4.500%

0

Community Activity Set-Aside (CASA)

4.250%

4.625%

0

Note: The Conventional Interest Rate incorporates the Fannie Mae/Freddie Mac Loan Level Pricing Adjustments and Adverse Market Delivery Fee. Lenders do not need to charge these fees to the borrower or seller. Lenders must originate all conventional insured or uninsured loans under either the MyCommunityMortgage® or Home Possible® loan product.

As of 2:00 p.m. on Tuesday, June 15, 2010 the interest rate for Minnesota Housing's Single Family Homeownership Opportunity Program (HOP) is as follows: 

 Program

 Interest Rate

Discount Points

Homeownership Opportunity Program (HOP)

5.750%

0


The following interest rates are for Minnesota Housing's Single Family Home Improvement programs.

As of 3:00 p.m. on Tuesday, November 24, 2009, second-lien interest rates are as follows:

 Program

 Second-Lien Interest Rate

 Discount Points

Fix-Up Fund (FUF)

5.990%

 0

Community Fix-Up Fund (CFUF)-Regular

5.750%

Contact Lending Partner 

Community Fix-Up Fund (CFUF)-Non-prime

 6.750%

Contact Lending Partner

As of 10:30 a.m. on Monday, August 30, 2010, first-lien interest rates are as follows:

 Program
 First-Lien Interest Rate
 Discount Points
Fix-Up Fund (FUF)
3.750%
0
Community Fix-Up Fund (CFUF)
3.750%
0

Note: The combination of the interest rate and loan repayment term may not cause the annual percentage rate (APR) for the loan to exceed the first lien position rate noted above by more than 1.49%.


Multifamily Programs

As of 11:30 a.m. on Wednesday, November 18, 2009, the interest rate for Minnesota Housing's Multifamily Low and Moderate Income Rental (LMIR) Program is as follows: 

 Program

 Interest Rate

Term

Low and Moderate Income Rental (LMIR) Program

5.500%

30-Year Fixed


LMIR loans provided through the sale of tax exempt bonds are subject to market at time of bond sale.  Balloon financing may be available.


 

 *This is not an offer to enter into an interest rate agreement. Such an agreement may only be made pursuant to Minnesota Statutes Section 47.206, Subds. 3 and 4.