• MHFA Down Payment Assistance Program

    A great option for Minnesota home buyers looking for some help with a down payment. Eligible buyers can purchase a home with as little as $1000 out of pocket!

  • MHFA Down Payment Assistance Program

    A great option for Minnesota home buyers looking for some help with a down payment. Eligible buyers can purchase a home with as little as $1000 out of pocket!

MHFA Down Payment Assistance Program

You make enough every month to qualify for a home, but just have a hard time saving for a down payment while paying rent and other normal expenses. Sound familiar? Don’t be discouraged. It’s hard! On a $200,000 home (not outrageous right?), we’re still talking about having to save $20,000 and that’s only for 10% down, not to mention keeping some funds in reserve. If that sounds like you, the MHFA down payment assistance programs might be just what you’re looking for!

MHFA Down Payment Assistance Program

You make enough every month to qualify for a home, but just have a hard time saving for a down payment while paying rent and other normal expenses. Sound familiar? Don’t be discouraged. It’s hard! If that sounds like you, the MHFA down payment assistance programs might be just what you’re looking for!

Buy a home with as little as $1000!

That’s right! Eligible buyers can buy a home with as little as $1000 out of pocket. A low down payment option combined with a down payment assistance loan can open the doors for many qualified buyers in Minnesota.

Down Payment Assistance

Eligible buyers can receive a down payment assistance loan up to 5% to use towards their down payment AND closing costs. Your home could be just a phone call away!

Not Just for First Time Home Buyers

Although many first-time home buyers take advantage of this program, there are options for current homeowners including both purchase and refinance.

MHFA Down Payment Assistance Loan Details:

  • Eligible buyers can buy a home with as little as $1000 out of pocket
  • Options for first-time buyers and current homeowners
  • Down payment assistance loan up to the greater of: $5000 or 5% of the purchase price (up to $10,000)
  • Purchase & Refinance options available

Eligibility:

  • Owner Occupied – Primary Residence Only
  • Subject to maximum income and loan limit requirements
  • Available in Minnesota only
  • Minimum FICO 640

It’s important to work with a lender that has experience working with MHFA. As a Minnesota-based lender, we excel at MHFA programs. Contact me today to see if you qualify!

Have a question about MHFA Down Payment Assistance?

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