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  • Minnesota First Time Home Buyer Programs

    Are you a first time home buyer?  Maybe looking for down payment assistance too?

    Tired of Renting? Ready to become a homeowner? Have OK Credit and stable employment? Have a few thousand in the bank? Have at least $1,000 * for down payment? Comfortable paying at least $1200 in rent right now?

    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 $15,000 in down payment assistance may be available to qualified first time home buyers

    Get Pre-Approved

  • Why Choose An First Time Home Buyer Loan?

    Here are a few of the great reasons to choose a first time home buyer program with down payment assistance for your first Minnesota home

    • Below market affordable interest rates
    • Special programs available anywhere in Minnesota only
    • Down Payment Assistance loans for eligible home buyers
    • No payment today interest free assistance loans for those lower income participants
    • Payment due assistance loans with higher income participants
  • We Can Probably Help You Buy a Home!

    Minnesota Housing Partner Lender

    The Minnesota Housing Finance Agency is a statewide program designed to help low to medium income household become home owners. The program combines a standard first mortgage, like an FHA loan, or a conventional loan with one of two down payment assistance program second mortgages to cover down payment and closing costs.

    Cambria Mortgage partners with the Minnesota Housing Finance Agency (MHFA) to offer safe and affordable home loans, including loans combined with down payment assistance for homes anywhere in Minnesota.

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

    To Be Eligible for these 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
  • First Time Home Buyer Program Qualifications

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

    The first time home buyer programs have additional qualification requirements.

    1. Maximum Home Purchase price
    2. Maximum Income Limits

    Then if you need down payment assistance, there are even more additional income requirements.

    1. Income requirements for the deferred down payment assistance
    2. Income requirements for immediate monthly payment down payment assistance
  • MHFA Home Price Limits

    The home you wish to buy must be under this purchase price. (as of May 20 2021)

  • Limit AreaMax Home Price
    Purchase Limit Metro Area$352300
    Purchase Limit Balance of State$311900
  • First time home buyer income limits


    As of 1/03/2022 and subject to change

  • Household SizeMetro AreaRochester Area All Other Counties
    1-2 people$104900$101200 $93100
    3+ people $120600$116300$107000

    On top of the basic first time home buyer loans, you may also qualify and get down payment assistance. The down payment assistance loan is not a gifts or grants, these are down payment assistance LOANS. You must pay them 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. You pay the money back when you sell, refinance, or no longer occupy the home. Available with Start Up loans.

    DEFERRED PAYMENT PLUS: Maximum assistance loan is $15,000. 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 Loan Income Limits

    Household sizeMetro AreaRochester AreaBalance of State (as of 6/15/2020)
    1-2 people$74000$74000 $66000
    3 people $84000 $84000 $74000
    4 people $93000 $93000 $83000
    5 people $101000 $101000$89000
    6 people $108000 $108000 $96000
    7+ people $115000 $115000 $102000
  • Deferred Monthly Payment Assistance Loan Income Limits

    Household SizeMetro AreaRochester Area All Other Counties
    1-2 people$10340$101200$91800
    3+ people $118900$116300$105500

    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
  • The STEP UP Assistance program

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

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

    The Step Up program also allows for down payment assistance, but only allows for the monthly payment option. 

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

    11-County Metro Rochester Area All Other Counties
  • Step Up Maximum House Price (as of 1/3/2022)

    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 may have changed. Contact us here at FirstTimeHomeBuyer-MN.com for the most current interest rate, income, and other down payment assistance guideline changes.
  • *

    Current MHFA down payment assistance rate as of March 30 2022 is 4.75% and APR 5.23% 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 4.75%, APR 4.77%. 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.

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