Exciting News for First-Generation Homebuyers!
Minnesota Housing’s First-Generation Homebuyer Loan Program is now live, starting May 6, 2024! This fantastic opportunity provides funding for up to 1,500 eligible borrowers on a first-come, first-served basis. Act fast as funds are limited!
Key program details:
- Loans up to $35,000 for downpayment and closing cost assistance.
- Requires the use of a Start Up first mortgage loan.
- Deferred, interest-free, and forgivable loan
- Half of the loan is forgiven after 10 years.
- The remaining half is forgiven after 20 years, provided all terms are met.
