Minnesota First Time Home Buyer
Are you a first time home buyer in Minnesota? Are you looking for a home in the Minneapolis, Saint Paul or Dakota County area? There are some excellent financing options available just for you! (If you’re looking outside these areas, DON’T WORRY, there is another program that may benefit you too – MHFA – The Minnesota Housing Finance Agency.) All of these programs offer lower-than-market interest rates and some offer grants or down-payment assistance.
The most important thing to know is that you must be a Minnesota First Time Home Buyer in order to qualify. What does that mean? According to the program guidelines, it means you could not have owned a home in the last three years. This is documented by obtaining copies of your last three years tax returns.
All of these programs are on a first-come, first-served basis. Funds may run out and when new funds are re-issued, the rates or parameters could change.
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