We make dreams come true... With Down Payment Assistance loans

Minnesota Housing Finance Agency
In partnership with the Minnesota Housing Finance Agency

What do MHFA loan programs have to offer first time homebuyers in MN?

Mortgage loans to purchase a home for qualified low and moderate income first-time and move up homebuyers in Minnesota
30-year loans with affordable, low, fixed interest rates for the life of the loan
Interest-free loans to help with down payment and closing costs for eligible borrowers

You may be eligible for a Minnesota Housing Finance Agency mortgage if you:

Are a first-time homebuyer, meaning you have not owned a home in the past three years (Start Up program)
Currently own a home, but want to buy a new home (Step Up program)
Have Federal income tax return copies for the last three years
Are able to put a down payment of at least $1000 down (or 1% if the home is under $100,000) of YOUR OWN money
Have a credit score of at least 640
Buy a qualifying home within prescribed purchase price limits
Have an income at or below prescribed Minnesota Housing income limits

We are and Approved MHFA Lender

Minnesota Housing Finance Agency partners with lenders across the state to provide our loan products to consumers. To learn more about which Minnesota Housing program is right for you, and to see if you qualify, please call (651) 552-3681 or fill out our mobile optimized online application.

When you decide to buy a home or refinance a mortgage in Minneapolis, St. Paul, Duluth, Rochester, or anywhere else in Minnesota, your search for a home loan or mortgage only need to start and end here. With so many lenders to choose from in the greater metro area, and nationally, you need to choose one you can trust to find the mortgage loan that’s best for you.

What kind of loans does Minnesota Housing offer? Two Down Payment Assistance Loans to Choose

START UP Program

The "Start Up" mortgage loans through local lenders to low and moderate income homebuyers throughout Minnesota. This first time homebuyer loan program that helps low to moderate income Minnesotans to buy a home. The interest rates are below market rates and available to Minnesotans based on their income. Income and Home Price Limit Tables are linked below.

STEP UP Program

The "Step Up" program is designed for move up buyers, or someone who has owned a home in the previous three-years. This first time homebuyer loan program that helps low to moderate income Minnesotans to buy a home. The interest rates are below market rates and available to Minnesotans based on their income. Income and Home Price Limit Tables are linked below.

MORTGAGE CREDIT CERTIFICATES

Start Up First-time Homebuyer Loans
Purchase Option 640 minimum credit score Low, affordable interest rates Three downpayment and closing cost loan options available for eligible borrowers: Monthly Payment Loan Deferred Payment Loan HOME HELP Loan
Step Up Non-First-time Homebuyers Loans
Purchase and refinance options 640 minimum credit score Low, affordable interest rates One downpayment and closing cost loan option available for eligible borrowers: Monthly Payment Loan

MCC (with First Mortgage)
For First-time homebuyers Minnesota Housing home mortgage loan with low, affordable interest rates Mortgage Credit Certificate (MCC) to reduce your federal income tax liability up to $2,000 per year Optional Monthly Payment Loan to cover downpayment and/or closing costs

Cambria Mortgage - St Paul Office
33 Wentworth Ave E, Suite 290
Saint Paul, MN 55118
Office (651) 552-3681 Fax (651) 994-6425
E-Mail: joe@JoeMetzler.com

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33 Wentworth Ave E - St Paul, MN 55118 - NMLS 274132
Equal Housing Lender © 2012 - 2023 - Joe Metzler for Cambria Mortgage

License Information
Cambria Mortgage. Nationwide Mortgage Licensing System and Registry (NMLS) # 322798 Saint Paul Branch - NMLS # 1888858. Joe Metzler, Licensed Mortgage Loan Originator NMLS # 274132. Minnesota Lic/Reg #: MN-MLO-274132. Wisconsin Lic/Reg #: 11418