Down Payment Assistance
Every year, down payment assistance goes unused because buyers don’t know it exists. Minnesota Housing offers deferred loans and monthly-payment loans that can cover down payment and closing costs for eligible buyers — stackable with FHA, VA, USDA, and conventional first mortgages. Some Twin Cities cities and nonprofits run their own smaller programs on top of that — Taylor checks every one that could fit your file.
Is this you?
- First-time buyers (and some repeat buyers in targeted areas)
- Households within Minnesota Housing income limits
- Buyers who qualify on income but are short on savings
- Anyone told “come back when you’ve saved more”
Taylor · Loan OfficerQuestions friends actually ask
How does down payment assistance work in Minnesota?
Minnesota Housing offers assistance as a second loan alongside your mortgage — some versions defer repayment until you sell or refinance, others carry a small monthly payment. Taylor handles the pairing with the right first mortgage for you.
Do I have to be a first-time buyer to get assistance?
Minnesota Housing’s Start Up program is for first-time buyers (defined as not owning in the last three years), but other programs serve repeat buyers too — Minnesota Housing’s Step Up program, for example, serves repeat buyers and refinancers who meet its limits. Income and purchase price limits apply and vary by county.
Is down payment assistance a grant or a loan?
It’s typically a loan — but often a deferred one with no monthly payment, repaid only when you sell, refinance, or pay off the first mortgage. Taylor will walk you through exactly what your version costs, in plain English, before you commit.
Is there down payment assistance for first-time home buyers in Minneapolis and St. Paul?
Yes. Minnesota Housing’s Start Up program is available statewide, including Minneapolis, St. Paul and every suburb, and some cities and nonprofits layer smaller local programs on top. Income and purchase-price limits apply and change periodically; Taylor checks your eligibility and runs the numbers before you commit.
Keep exploring
Conventional Loans
The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.
Learn more →FHA Loans
The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.
Learn more →VA Loans
For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.
Learn more →Not sure yet?
That is literally what Taylor is for. One conversation, all your options side by side, zero pressure to move forward.
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