Minnesota Housing has been helping homebuyers finance homes for more than 40 years by partnering with a statewide network of approved lenders to offer safe and affordable home loans. Look to our family of programs to help your families with their homeownership journey.
What do Minnesota Housing Mortgage Loan Programs offer?
Mortgage loans to purchase or refinance a home through local lenders for qualified low and moderate income Minnesotans
15- and 30-year loans with affordable, low, fixed interest rates for the life of the loan
Interest-free loans to help with downpayment and closing costs
3% down, no mortgage insurance financing with HFA Preferred Risk SharingTM conventional product
Mortgage Credit Certificate (MCC) to reduce your client's federal tax liability up to $2,000 per year
Which program is right for your clients?
If you think Minnesota Housing is only about first-time homebuyers, think again. Our Start Up, Mortgage Credit Certificate (with First Mortgage) and Step Up programs provide your clients with purchase and refinance options to start them on their homeownership journey, or help them maintain it affordably. And for those clients who need just a little extra cash to close the deal, look into our three downpayment and closing cost loan options to find the one that works best.
Start Up First-time Homebuyer Loans
MCC (with First Mortgage) for First-Time Homebuyers - Limited Time Only
Mortgage loan for first-time homebuyers
640 minimum credit score
Low, affordable interest rates
Three downpayment and closing cost loan options available for eligible borrowers
Eligible Minnesota Housing borrowers have access to three downpayment and closing cost loan options, with availability depending on the first mortgage program selected. Additional eligibility requirements apply.
If you are currently not a Minnesota Housing lender and are interested in applying to participate in one of our mortgage loan programs, contact Christina Akinola, Community Business Representative at Christina.Akinola@state.mn.us to learn more.