There are a number of down payment assistance programs available in Minnesota. Moorhead MN is one city that offers a down payment assistance program for first-time homebuyers.
The Start Up program is for first-time homebuyers, defined as those who “have not had an ownership interest in a principal residence in the last three years.” If you’ve never owned a home, or it’s been more than three years since you’ve been a homeowner, you may be considered a first-time homebuyer.
To learn more, meet with a participating lender to discuss Start Up program guidelines and options, including:
Income limits
Downpayment and Closing Cost Loan options – up to $17,000 available!
Minimum credit score
Owner-occupancy requirement
Purchase price limits
Completion of homebuyer education
If you are a first-time homebuyer but exceed the income or purchase price limits for Start Up, you may be able to qualify under the Step Up program. Get started on your path to homeownership! Contact a participating lender with questions about your eligibility and learn more about which Minnesota Housing program may be right for you.