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We make dreams come true... With a Down Payment Assistance loan from the Minnesota Housing Finance Agency

Minnesota Housing Finance Agency

What do MHFA backed  programs have to offer first time homebuyers in MN?

- Mortgage loans to purchase a home for qualified low and moderate income first-time and move up homebuyers in Minnesota
- 30-year loans with affordable, low, fixed interest rates for the life of the loan
- Interest-free loans to help with down payment and closing costs for eligible borrowers
- Mortgage Credit Certificates - Which can be used to lower your taxes up to $2,000 a year.

You may be eligible for a Minnesota Housing Finance Agency mortgage if you:

- Are a first-time homebuyer, meaning you have not owned a home in the past three years (Start Up program)
- Currently own a home, but want to buy a new home (Step Up program)
- Have Federal income tax return copies for the last three years
- Are able to put a down payment of at least $1000 down (or 1% if the home is under $100,000) of YOUR OWN money
- Have a credit score of at least 640
- Buy a qualifying home within prescribed purchase price limits
- Have an income at or below prescribed Minnesota Housing income limits

Contact an approved MHFA Lender
Minnesota Housing Finance Agency partners with lenders across the state to provide our loan products to consumers.  To learn more about which Minnesota Housing program is right for you, and to see if you qualify, please call (651) 552-3681 or fill out an online application.

When you decide to buy a home or refinance a mortgage in Minneapolis, St. Paul, Duluth, Rochester, or anywhere else in Minnesota, your search for a home loan or mortgage only need to start and end here.  With so many lenders to choose from in the greater metro area, and nationally, you need to choose one you can trust to find the mortgage loan thatís best for you.


What kind of loans does Minnesota Housing offer? Two Down Payment Assistance Loans to Choose Click here to apply online for a down payment assistance loan in MN

START UP Program

The "Start Up" mortgage loans through local lenders to low and moderate income homebuyers throughout Minnesota. This first time homebuyer loan program that helps low to moderate income Minnesotans to buy a home. The interest rates are below market rates and available to Minnesotans based on their income. Income and Home Price Limit Tables are linked below. See Start Up Brochure

STEP UP Program

The "Step Up" program is designed for move up buyers, or someone who has owned a home in the previous three-years. This first time homebuyer loan program that helps low to moderate income Minnesotans to buy a home. The interest rates are below market rates and available to Minnesotans based on their income. Income and Home Price Limit Tables are linked below. See Step Up Brochure

MORTGAGE CREDIT CERTIFICATES

Combine a Start Up Program loan with Mortgage Credit Certificates (MCC), which can be used to lower your federal tax liability up to $2,000 per year.  be sure to ask about an MCC - See MCC Flyer
 
Start Up First-time Homebuyer Loans
  • Purchase Option
  • 640 minimum credit score
  • Low, affordable interest rates
  • Three downpayment and closing cost loan options available for eligible borrowers:
    • Monthly Payment Loan
    • Deferred Payment Loan
    • HOME HELP Loan
  • See Start Up Brochure
Step Up Non-First-time Homebuyers Loans
  • Purchase and refinance options
  • 640 minimum credit score
  • Low, affordable interest rates
  • One downpayment and closing cost loan option available for eligible borrowers:
MCC (with First Mortgage)
  • For First-time homebuyers
  • Minnesota Housing home mortgage loan with low, affordable interest rates
  • Mortgage Credit Certificate (MCC) to reduce your federal income tax liability up to $2,000 per year
  • Optional Monthly Payment Loan to cover downpayment and/or closing costs
  • See MCC Flyer
 

  Click here to apply online for a down payment assistance loan in MN

 

Mortgages Unlimited, Inc - St Paul Office
33 Wentworth Ave E, Suite 290
Saint Paul, MN 55118
Office (651) 552-3681

Fax (651) 994-6425
E-Mail: jmetzler@muihomeloans.com

License Information
Mortgages Unlimited, Inc. Nationwide Mortgage Licensing System and Registry (NMLS) # 225504 Saint Paul Branch - NMLS # 387944
Joe Metzler, Licensed Mortgage Loan Originator NMLS #  274132. Minnesota Lic# MN-MLO-274132. Wisconsin Lic# 11418. South Dakota Lic# MLO.03095

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33 Wentworth Ave E - St Paul, MN 55118 - NMLS 274132
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