Minnesota first time home buyer grants and loan programs - The Minnesota Housing Finance Agency (MHFA) offers programs for first time home buyers.
The MHFA program offers home loans/mortgages with below market interest rates to eligible first time home buyers through local lenders. The MHFA program considers a first time home buyer anyone that has not owned a home or had an interest in a home in the past three years.
The Minnesota Mortgage Program (MMP) is a first time home buyer loan program that helps low to moderate income buyers purchase a home. The interest rates are below market rates and available to eligible buyers based on certain income requirements. The MHFA website shows the income and home price limits guidelines for this program.
The MHFA also has programs that offer downpayment closing cost assistance and special incentives for US Veterans.
To see if you qualify for any of these programs, check out the MHFA website to learn more.