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Minnesota Housing Finance Agency

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Latest opportunities (2)

Minnesota Housing Finance AgencyMNFirst-Time HomeownerForgivable down payment assistance loan layered with a Minnesota Housing Start Up first mortgage

Updated: Dec 5, 2025

Minnesota Housing’s now-closed First-Generation Homebuyer Loan Program provided targeted downpayment assistance loans to first-generation buyers using a Start Up mortgage, helping households whose parents never owned a home overcome the upfront cost barrier to homeownership.

Eligible for: First-generation homebuyers (whose parents never owned a home) using a Minnesota Housing Start Up mortgage, meeting agency income and purcha…

Funding: Provided one-time forgivable down payment assistance loans sized to program design and home price; funds are now fully exhausted and new loans are not available.Deadline: Program closed 2024-12-19; Minnesota Housing is no longer accepting First-Generation Homebuyer Loan commitments.ClosedStatewideindividualfirst-generation homebuyerdown payment assistanceforgivable loanfirst-generation homebuyer

Minnesota Housing Finance AgencyMNFirst-Time Homeowner30 year fixed rate first mortgage loans (Start Up and Step Up) with optional down payment and closing cost assistance loans and mortgage credit certificates

Updated: Dec 6, 2025

Minnesota Housing’s “Buy a Home” offerings provide statewide first-time homebuyer and repeat-buyer mortgages with built-in access to down payment and closing-cost assistance, making homeownership more affordable for low- and moderate-income households across Minnesota.

Eligible for: First-time and repeat homebuyers in Minnesota who meet Minnesota Housing income limits (in some areas up to about $185,700 household income)…

Funding: Down payment and closing cost assistance amounts vary by program and are typically structured as separate loans sized as a percentage of the first mortgage amount, designed to reduce the cash needed at closing.Deadline: Rolling; programs are offered statewide while funding and loan purchase capacity remain available.RollingStatewidehomebuyerfirst-time homebuyerrepeat homebuyerdown payment assistanceclosing cost assistanceaffordable mortgagetax credit