MN START UP Down Payment Assistance Program

First time homebuyer loan guidelines


MHFA Minnesota Housing programMortgages Unlimited has been helping Minnesota homebuyers since 1991.


We partner with the Minnesota Housing Finance Agency to offer safe and affordable home loans, including loans combined with down payment assistance programs.


Minnesota MHFA PROGRAM Household income limits (As of  3/26/2018)


Your household income must meet the following limits:



1-2 People

3+ Persons

Income Limits

11-County Metro



Rochester Area



Balance of State











MHFA Home Cost Limits


The home you wish to buy in MN must be below this limit:



Purchase Limits

11-County Metro


Balance of State










These are not gifts or grants, these are down payment assistance LOANS. You must pay them back. There are three payback options.


DEFERRED PAYMENT: Maximum assistance loan is $8,000. No payments, no interest due. You pay the money back when you sell, refinance, or no longer occupy the home. Available with Start Up and Step Up Loans.


DEFERRED PAYMENT PLUS: Maximum assistance loan is $10,000. Limited to limited target criteria. No payments, no interest due. 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

Deferred payment income limits

 Household Size
Twin Cities Metro 
and Rochester 
 Greater Minnesota
1-2 Person
3 Person
4 Person
5 Person
6 Person
7+ Person


MONTHLY PAYMENT LOANS: Maximum assistance loan is $15,000. Payments are due on the assistance loan right away based on a 10-year loan.


Call (651) 552-3681 for more details.


All applicants must meet minimum credit score requirements. The minimum score depends on the underlaying main loan program.


Absolute minimum scores:


USDA: 640
FHA: 650
Conventional: 640


Some programs, and sub-programs have higher minimum scores. Call (651) 552-3681 for specific details about your personal situation.



How To Apply for First Time Home Buyer Loans


Lack of down payment money is one of the biggest reasons many people think they can not buy a house.  The second item being poor credit.


We have access to many down payment assistance programs throughout Minnesota with different levels of assistance.  Most people get around $5,000 worth of assistance, but can often times go as high as $10,000.


Click here to apply online, and have an answer in a few business hours!


MHFA Start Up MN Housing program loan application


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Approved FHA Lender, VA Lender, and USDA Lender in MN, WI, and SD

HUD, The VA, and the USDA requires those who offer their mortgage loans go through a stringent approval process. We are an approved FHA, VA, and USDA mortgage lender. We are not acting on behalf of, or under the direction of the VA or the Federal Government. HUD / FHA and the VA do not lend directly to the public, only through approved lending institutions like Mortgages Unlimited.