Twin Cities First Time Home Buyer – Minneapolis Metro* – MHFA Programs
- *11-county metro area includes Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright
The programs via the Minnesota Financing Agency include the MMP program @ 4.125% 30 yr. fixed and CASA @ 4.5%. Each program is slightly different and has particular highlights. The MHFA has been around since 1971, helping Twin Cities first time home buyers like you enjoy the dream of home-ownership. The qualifications are below:
- Maximum household income for 1-4 people is $63,000 (11-county metro area*)
- Maximum purchase price limit is $298,125 (11-county metro area)
- $3,000, $4,500 or $8,500 down-payment assistance for those who meet certain qualifications outlined on the website
- Money also available for Olmsted County and the balance of the state with different income limits and purchase price limits
For more information on MHFA, contact us NOW.
For all these Minnesota first time home buyer programs, you still need to qualify for a general mortgage program, such as FHA, VA , Rural development or Conventional. Programs that allow for gift funds are best suited for the MHFA assistance programs.
Minnesota First Time Home Buyer Down Payment Assistance Program
Serving Mankato, North Mankato, Northfield, Minneapolis, St. Paul, Brainerd, St. Cloud, Rochester, Duluth and all other cities in Minnesota.