Minnesota Housing First-Time Buyer Program
Buy your first home with as little as $1,000 down payment through Minnesota Housing programs
Make Homeownership Affordable in Minnesota
The Minnesota Housing Finance Agency offers incredible opportunities for first-time home buyers to achieve homeownership with minimal out-of-pocket costs.
Through various Minnesota Housing programs, qualified buyers can purchase a home with as little as $1,000 of their own money. These programs combine low down payment options with down payment assistance grants to make homeownership accessible.
Why Choose Minnesota Housing Programs?
Multiple benefits designed to make homeownership affordable
Low Down Payment
As little as $1,000 of your own money required when combined with down payment assistance programs.
Down Payment Assistance
Receive up to $18,000 in down payment and closing cost assistance that you don't have to pay back monthly.
Market Rates
Access to competitive interest rates that are similar to regualr loans.
Flexible Property Types
Purchase single-family homes, townhomes, condos, and manufactured homes throughout Minnesota.
Homebuyer Education
Required homebuyer education helps prepare you for successful homeownership.
Expert Guidance
Joe Metzler's 25+ years of experience navigating Minnesota Housing programs for clients.
Minnesota Housing Program Options
Multiple programs to fit different situations and income levels
Start Up Loan
The flagship first-time buyer program with low down payments and competitive rates.
- As low as 3% down payment (before any assistance)
- Competetive market interest rates
- Available statewide
- Can be combined with other assistance programs
Down Payment Assistance
Assistance loans to help cover your down payment and closing costs.
- Up to $18,000 assistance
- No monthly payments required, Deferred payment loan
- or Montly payments due assistance loan
- Income and purchase price limits
Other Community Homeownership Assistance
Additional assistance for homes in targeted neighborhoods and communities.
- Extra down payment help
- Specific geographic areas
- Community revitalization focus
- Stackable with other programs
Do You Qualify?
Most Minnesota residents can take advantage of these programs
Basic Requirements
- First-time home buyer (haven't owned in the past 3 years), or a move up buyer who has owned recently.
- Meet income limits (varies by area, typically up to $115,000+)
- Meet purchase price limits (varies by county)
- Complete homebuyer education course
- Primary residence only
- Minimum credit score requirements (typically 620+)
Income Limits (2025)
Income limits vary by location and household size:
- Twin Cities Metro: Up to $115,150 (1-2 person household)
- Greater Minnesota: Up to $103,650 (1-2 person household)
- Larger households: Higher limits apply
- Targeted areas: Up to $138,180 in some locations
Your Path to Homeownership
Simple steps to get your Minnesota Housing loan approved
Complete Homebuyer Education
Take the required 8-hour homebuyer education course online or in-person. We can recommend approved providers and may cover the cost for qualified buyers.
Apply for Pre-Approval
Submit your application through Joe's secure online portal. Get pre-approved typically within 24-48 hours with all required documentation.
Find Your Home
Work with a Minnesota Housing-approved real estate agent to find a home within the program's purchase price limits in your desired area.
Submit Full Application
Once under contract, we submits your complete loan application to Minnesota Housing for final approval and funding commitment.
Close on Your Home
Complete the closing process with your minimal out-of-pocket investment and receive the keys to your new home!
Ready to Buy Your First Home?
Let Joe Metzler guide you through the Minnesota Housing programs and get you into a home with minimal cash investment.
Frequently Asked Questions
Common questions about Minnesota Housing programs
Can I really buy a home with only $1,000 down?
Yes! When you combine the Minnesota Housing Start Up loan with Down Payment Assistance, you can purchase a home with as little as $1,000 of your own money. The assistance often covers the rest of your down payment and closing costs, but not always. Contact us for a review of your personal qualifications.
What if I've owned a home before?
You qualify as a "first-time buyer" under the 'Start Up' program if you haven't owned a home in the past 3 years. There are also exceptions for displaced homemakers, single parents, and others. Joe can review your specific situation. There is also a 'Step Up' program option for those who have owned a home recently.
Do I have to pay back the down payment assistance?
Yes. These are not gifts or grants. There are two assistance program, The first program assistance program is a deferred loan with no monthly payments. You only repay it if you sell, refinance, or no longer live in the home. The second program, you have payments due immediatly, based on a ten-year loan.
Are there restrictions on the type of home I can buy?
You can purchase single-family homes, townhomes, condominiums, and manufactured homes. The home must be your primary residence and meet certain condition requirements.
Get Started Today
Multiple ways to begin your Minnesota Housing loan application