Participating Lenders

The Start Up program is designed for first-time homebuyers, defined as those who "have not had an ownership interest in a principal residence in the last three years.

Key Features

• Income Limits up to $134,800
• Acquisition cost limits up to $372,600
• Down payment loans up to $18,000
• Eligible Products include FHA, VA, RD and Conventional loans with Fannie Mae and Freddie Mac

The Step Up program offers the option to refinance a current Minnesota Housing mortgage or to purchase a home as a first-time homebuyer if over income for the Start Up program.

 Key Features

•  Income Limits Up to $175,400
• Acquisition cost limits up to $659,550
• Down payment loan up to $18,000
• Eligible Products include FHA, VA, RD and Conventional loans with Fannie Mae and Freddie Mac

Application to participate in Minnesota Housing programs is a dual approval process. Lenders must be approved by both U.S. Bank Home Mortgage-HFA division and Minnesota Housing. 

Read the Lock, Fee and Service Release Premium (SRP) Guide.

Application to participate in Minnesota Housing programs is a dual approval process. Lenders must be approved by both U.S. Bank Home Mortgage-HFA division and Minnesota Housing. 

Read the Lock, Fee and Service Release Premium (SRP) Guide.

For Start Up/Step Up program information or to become a lender, contact christina.akinola@state.mn.us.

The Fix Up Loan Program allows eligible homeowners to finance up to $75,000 in permanent home improvements. The program is available statewide, and homeowners access it by contacting a participating lender, who originates, underwrites and closes the Fix Up loan. AmeriNat services all Fix Up and Community Fix Up loans. 

Key Features

• Affordable, fixed interest rates
• Higher loan-to-value ratio compared with traditional renovation loan products
• Secured and unsecured loan options
• In most cases, homeowners can hire a contractor or do the work themselves
• No income limits for energy and accessibility loans (see income limits for other Fix Up loans)
• No required inspections
• Projects in progress or completed within 120 days are eligible for financing

The Community Fix Up Loan Program is an add-on program for eligible Fix Up lending partners and provides affordable financing to support partnerships that target resources.

Possible Options

• Discount loan initiatives
• Loan loss reserve fund
• Value-added services and/or interest rate discount
• Funds are available to the approved initiative for two years

The process is simple to become a participating Fix Up lender! A lender signs a participation agreement and pays a one-time $250 participation fee. Once these are received, Minnesota Housing staff sets up the company in our commitment system, schedules an onboarding meeting and connects loan officers with additional training resources.

For Fix Up or Community Fix Up program information or to become a lender, contact Kirsten.partenheimer@state.mn.us. 

The Rehabilitation Loan Program and Emergency & Accessibility Loan Program (RLP/ELP) assist low-income homeowners in financing home improvements that directly affect the safety, habitability, energy efficiency or accessibility of their homes. The Emergency & Accessibility Loan Program is   available for home improvements that address emergency conditions of the home or accessibility needs for a household resident with a disability.

Program Features 

• Maximum loan amounts up to $37,500
• Maximum loan term is 15 years for properties taxed as real property and 10 years for manufactured homes taxed as personal property
• Loans are forgiven if borrower does not sell, transfer title, or cease to occupy the property during the loan term.
• Various property types are eligible including, but not limited to, single family homes, duplexes, a condominium unit, and manufactured homes taxed as real or personal property

 Lender Compensation

• RLP: Up to $4,375
• ELP: Up to $1,200 

Additional Information 

• Program highlights and lender opportunities
• Detailed program information and how to become a lender

For RLP/ELP program information or to become a lender, contact rlp.elp@state.mn.us.