Assistance program · Minnesota
Monthly Payment Loan
Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up
At a glance
- Most it gives, per the source
- Up to $14,000
- What its page says; your amount depends on the price and the loan.
- Kind of help
- Repayable
- Second loan with monthly payments
- First-time buyer?
- No
- No first-time requirement
- Checked
- November 5, 2026
- Against the program's official page.
Type of help
What it is
- Second loan with monthly payments
What it gives
Up to $14,000
Source text
Monthly Payment Loan … Available with Start Up or Step Up … Up to $14,000 … 15 year repayment term … Equal to your first mortgage rate … Each loan program has eligibility requirements and can only be used with a Minnesota Housing first mortgage. A summary of what the program publishes; not a loan offer or advice. Amounts, limits and funding change without notice.
At a glance
Who qualifies
Each answer comes from the program's page. "Not stated — ask" means its page doesn't make it clear: ask before you apply.
Source text
When you qualify for a loan and are eligible for the Minnesota Housing Start Up or Step Up programs, you may also have the option to access one of our downpayment and closing cost loan programs. … If you’re not a first-time homebuyer – or you’re a first-time homebuyer who exceeds the income or purchase limits for Start Up – the Step Up program might be a great option. … Same as Minnesota Housing first mortgage loan program … If you are getting a Minnesota Housing loan and all borrowers are first-time homebuyers, at least one borrower must complete an approved homebuyer education course - First-time buyers only No
- Homebuyer course required Not stated — ask
- Minimum credit score Not stated — ask
- Income limit Per the program table (by county and household size)
- Price limit Per the program table
- Mortgages it works with Not stated — ask
- Immigration requirement Not stated — ask
- Accepts ITIN? Not stated — ask
- Spanish materials Not stated — ask
- Program status The source does not say whether it is open — ask
- Where it applies All of Minnesota
What its page says about being open
Its page does not say whether the program is open or has funds. Ask the lender or the agency before counting on it. Read on the official page on November 5, 2026.
Your area in numbers
What buying costs in Minnesota
The program covers all of Minnesota. The first column is Minnesota's figure; the second runs from the lowest to the highest among its counties. Limits change by county: check yours.
The typical home value ($329,300) fits within Minnesota's FHA limit ($541,287).
The program sets its income limit in its own table. For reference, HUD's low-income limit for 4 people in Minnesota is $79,750.
| Figure | Minnesota | Lowest to highest | Source |
|---|---|---|---|
| Typical home value | $329,300 | $114,100 (Traverse County) to $453,600 (Carver County) | U.S. Census Bureau |
| FHA limit (one-unit home) | $541,287 | $541,287 (Aitkin County) to $552,000 (Wright County) | HUD |
| Conforming limit (one-unit home) | $832,750 | $832,750 in all 87 counties | FHFA |
| HUD low income (80%), household of 4 | $79,750 | $78,400 (Aitkin County) to $106,800 (Olmsted County) | HUD |
Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024) · FHA mortgage limits (HUD) (2026 data) · Conforming loan limits (FHFA) (2026 data) · Income Limits (HUD) (Fiscal year 2026)
Step by step
How to use it, step by step
Each step comes from what the program's page says. What its page leaves out is further down, in the questions.
Find a participating lender-
Ask first whether it is open
Its page does not say whether it is open or still has funds. That is the first thing to ask.
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Find your county in the income table
The limit changes with the county and the number of people in your household. Count the income of everyone the program asks you to add.
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Find a participating lender: state programs do not take applications directly; the lender reserves the assistance while processing your mortgage.
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Compare the total cost before you sign
Ask about the total cost. The mortgage with assistance may carry a higher rate than without it, and some programs charge for the course or a fee.
Before you call
What to ask
Its page leaves 8 points unclear. Write them down for when you talk to Minnesota Housing.
What its page does not say
- Is it open now, and does it still have funds?
- Do you require a homebuyer course? Which ones do you accept, and what do they cost?
- Is there a maximum price for the home?
- What minimum credit score do you require?
- Which mortgage types does it work with: FHA, VA, USDA or conventional?
- Which immigration status or residency documents do you ask for?
- Do you accept an ITIN?
- Do you have materials or staff in Spanish?
Worth asking for this kind of help
- What rate and monthly payment does the second loan have?
Against the others
How it compares with Minnesota's other programs
The 2 programs we checked in Minnesota, with the same fields from their official pages. "Doesn't say" means its page does not make it clear.
It is the only one of Minnesota's 2 programs that says you do not need to be a first-time buyer. It is one of 2 out of 2 that publish an amount with the figure in their own wording. It is the only program in Minnesota on our list with "repayable" help.
Swipe the table to see every column.
| Program | Kind of help | Published amount | First-time buyers only | Course required | Accepts ITIN | Where it applies |
|---|---|---|---|---|---|---|
| Monthly Payment Loanthis program | Repayable | Up to $14,000 | No | Doesn't say | Doesn't say | Statewide |
| Deferred Payment Loan (Start Up) | Deferred | Up to $18,000 | Yes | Yes | Doesn't say | Statewide |
Sources
How we checked this program
We read the program's official pages on November 5, 2026 and copied their text as it appears on them. We add no amounts or requirements those pages do not state, and a program is listed as open or closed only when its page says so.
We check every program again. If more than 180 days pass without a check, the page says so.
Get free help applying
A HUD-approved housing counselor explains the program's requirements, goes over your numbers and tells you what to ask the lender. They do not sell loans.
Find a counselor (HUD)Read before you apply
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Help and programs
Down payment assistance: how it works
What down payment assistance is, the types that exist (grant, forgivable or deferred second loan, tax credit), who qualifies and where to find it.
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Help and programs
HUD housing counselors: what they do and what they cost
What a HUD-approved housing counselor does, what they help with (buying, renting, missed payments, credit), what they may charge and how to find one.
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Help and programs
Public charge and housing: what the rules say
Public charge: which housing help DHS may consider, who is exempt, how HUD prorates assistance for mixed-status families and where to get free advice.
Your county
Price and income limits depend on the county. Your county page has the typical value, the FHA limit and the counseling agencies that can walk you through the application.