• MN Housing Program – Just $1,000 minimum down *

  • Cambria Mortgage, in partnership with Minnesota Housing Finance Agency

    Are you a first time home buyer? We can help!

    Down Payment Assistance | Deferred Down Payment AssistanceMonthly Payment Assistance LoanStep Up Program |

    Cambria Mortgage is proud to partner with the Minnesota Housing Finance Agency ( MHFA ) to offer Minnesota first time home buyers  some great home loan options, including down payment assistance programs.

    If you have OK Credit (640 score or higher), stable employment, and a few thousand in the bank for down payment.. 

    First time home buyers movingThan YOU could be a home owner, and We Can Help

    Buying a home is much more than a financial transaction. It means independence, growth, and a place to share with family and friends. We offer the programs and resources that will help you buy a home and be a successful homeowner.  Low and no down payment loans, down payment assistance programs, affordable fixed interest rates, help you with home buyer education classes, and a wide variety of loan assistance options, including both loans and grants to meet your needs.

    Figuring all this out can become overwhelming for many, so we suggest you don't try. We make it easy for you. Simply review the steps below on how to get started.

    Whether you’re just starting your home search or have already found that perfect dream home, Cambria Mortgage has you covered!

  • Get Approved Today for Down Payment Assistance in MN

    Up to $17,000 in down payment assistance may be available to qualified first time home buyers

    Get Pre-Approved

  • Who is Eligible For Minnesota Special First Time Home Buyers Programs, and Down Payment Assistance?

    To Be Eligible for these MN Housing Finance Agency programs, you:

    • Must be a first time home buyer (or have NOT owned a home the past 3-years) for the Start Up program.
    • You can also currently own a house, or have recently owned a home for the Step Up program
    • Have acceptable credit - Lowest acceptable score for any program is currently 640.
    • Have at least $1,000 of your own money for down payment (or 1% of the purchase price if home is under $100,000) *
    • Have household income less than the income limits (see below)
    • Meet additional household income limits for one of the two down payment assistance options (see below)
    • Buy a home less than the current maximum home price limit (see below)
    • Meet standard FHA loan, USDA Loan, VA Loan, or Conventional loan guidelines
    • Be a U.S. Citizen, or a qualified non-citizen
  • Check Your Minnesota Down Payment Assistance Eligibility

    Down Payment Assistance

    Are you eligible for down payment assistance? Follow these simple steps to see.


    Step 1: Meet Basic First Time Home Buyer Program Qualifications

    All clients must qualify for the standard main loan, which is typically a standard 30-year fixed loan, either FHA or conventional.

    You must also be a first time home buyer. This also means you have NOT owned a home in the past three years.  If you HAVE owned a home in the past three years, see the STEP UP PROGRAM GUIDELINES below.

    Next, you must meet Maximum Household Income limits, as follows:

  • First time home buyer income limits


    As of 7/1/2022 and subject to change

  • Household SizeMetro AreaRochester Area All Other Counties
    1-2 people$117300$111500$104000
    3+ people $134800$128200$1119600
  • Step 2: Home Purchase Price Limits

    Next, the home you wish to buy must be selling for less than the home purchase price limits below (as of July 1, 2022)

  • MHFA Home Purchase Price Limits

  • Limit AreaMax Home Price
    Purchase Limit Metro Area$372600
    Purchase Limit Balance of State$349500

    On top of the basic first time home buyer loans, you may also qualify and get down payment assistance. The down payment assistance loan are not a gifts or grants, these are loans that must be paid back.

    There are two basic down payment assistance loans:

    Deferred Loan: No payments due today. Pay the loan back when you sell the home, or no longer occupy the home as your primary residence. This loan has stricter household income limits (see below).

    Monthly payment loan: A payment is due today along with your main mortgage loan payments. The interest rate is the same as your first mortgage, and is a 10-year loan. This program allows for higher household incomes (see below).


    There are two payback options.  

    DEFERRED PAYMENT: Maximum assistance loan is $12,500. No payments, no interest due today. You pay the loan back when you sell, refinance, or no longer occupy the home. Available with Start Up loans ONLY. If you've owned a home in the past three years, only the monthly payment assistance loan is available to you.

    DEFERRED PAYMENT PLUS: Maximum assistance loan is $15,000. Limited to limited target criteria. No payments, no interest due today. You pay the money back when you sell, refinance, or no longer occupy the home. Available with Start Up and Step Up Loans. Target criteria: Must meet two or more of these items: Household size of four or more

    • Single head of household with minor dependents
    • House payment no more than 28% of income
    • Household member with a disability

    To Qualify For The Deferred Payment Down Payment Assistance program:

    You must fall under the income limits below (as of July 1, 2022):

  • Deferred Payment Loan Income Limits

    Household sizeMetro AreaRochester AreaBalance of State
    1-2 people$84000$84000$75000
    3 people $95000$95000$84000
    4 people $106000$106000$94000
    5 people $114000$114000$101000
    6 people $122000$122000$109000
    7+ people$131000$128000$116000

    Monthly Payment Assistance Loans

    Household Income Too Much?

    If your household income is too high to qualify for the deferred payment assistance loan program, there is another possible option for you, known as the Monthly Payment Assistance Loan. This program has much higher household income limits, but a payment on the assistance loan is due each month along with your main loan payment.

    Monthly payment assistance loans can be used with either Start Up or Step Up, and can be used if over the deferred assistance income level

    • Loans up to $17,000
    • Payments are due on the assistance loan right away based on a 10-year loan
    • Interest rate equal to first mortgage rate
    • Is a 2nd Mortgage on the house

    To Qualify For The Monthly Payment Assistance Loan

    Your household income must be below the current limit (as of July 1, 2022)

  • Monthly Payment Assistance Loan

    LocationIncome Limit
    11 County Metro$175000
    Dodge/Olmstead County$175400
    Balance of State$155500


    We also offer the Minnesota Housing Finance Agency STEP UP home buyer assistance program.

    Unlike the START UP program, which is for first time home buyers ONLY, the Step Up  program is an assistance program for repeat homebuyers - those who already have owned a home, or even those who currently own a home.  This assistance program has slightly different guidelines than the Start Up program.



    As with the Start Up program, all applicants must qualify for the basic loan, which can be a standard conventional loan, FHA loan, or VA loan.

    All applicants must have a middle credit score of at least 640.


    The applicants household income must fall below these limits (as of July 1, 2022)

  • Step Up Program Income Limits (with or without down payment assistance)

    11-County Metro Dodge/Olmstead Counties All Other Counties

    The STEP UP program is limited to homes priced under the maximum home price limits listed below (as of July 1, 2022)

  • Step Up Maximum House Purchase Price

    Location property Type Loan Limit
    11 County MetroOne Unit$448500
    11 County MetroDuplex$574150
    Balance of StateOne Unit$420680
    Balance of StateDuplex$4538650
  • *The 11-county Twin Cities Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.

    While we try to keep this web site as accurate as possible, income limits and other parameters may have changed. Contact us here at FirstTimeHomeBuyer-MN.com for the most current interest rate, income, and other down payment assistance guideline changes.

    first time home buyer mn grants, Does Minnesota have a first-time home buyer program, What is the MN start up program

  • *

    Current MHFA down payment assistance rate as of July 1 2022 is 6.00% and APR 6.23% based on sample loan of $280,000 purchase price, 3% down payment conventional 30-year fixed, $1,000 out of buyers pocket, no origination fee, and assistance 2nd mortgage. Assistance 2nd mortgage rate is also 6.00%, APR 6.00%. Not an offer to enter into an interest rate lock agreement. Not everyone will qualify. Equal Housing Lender. RATES SUBJECT TO CHANGE. Call your Loan officer for current rates.

Share via
Copy link
Powered by Social Snap