Need help with your downpayment? Concerned about paying for closing costs? We can help! Minnesota Housing downpayment and closing cost loan programs provide up to $18,000 to help you bridge the gap and become a homeowner. Depending on your need and eligibility, choose from the Monthly Payment Loan with the same affordable interest rate as your first mortgage or a Deferred Payment Loan with no interest.
Benefits Of A Downpayment And Closing Cost Loan
MONTHLY PAYMENT LOAN
- Loans up to $18,000
- Available with Start Up and Step Up loan
programs
DEFERRED PAYMENT LOAN
- Loans up to $16,500 (up to $18,000 for borrowers who meet criteria for Deferred Payment Loan Plus)
- Available with the Start Up loan program
Downpayment And Closing Cost Loan eligibility requirements
- Income limits
- Minimum credit score
- Home cost limits apply
- Loans must be fully repaid
