Home Buyer Resources

When you qualify for a loan and are eligible for the Minnesota Housing Start Up or Step Up programs, you also have the option to access one of our downpayment and closing cost loan programs. These loans, with amounts up to $18,000, are not grants, must all be repaid in full, have eligibility requirements of their own, and can only be used with a Minnesota Housing first mortgage.

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Downpayment and closing cost loan program options main features:

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* Interest-free deferred balloon loan must be fully repaid in a lump sum at the end of the mortgage term, or when the borrower moves, the property is sold or refinanced (unless refinancing with our Step Up program) or the first mortgage is paid off.

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*SOURCE: www.mnhousing.gov