*Click on the program above to see more details.*
MHFA - First-Time Homebuyer
Minnesota Housing Finance Agency (MHFA) is an agency of the State of Minnesota tasked with reducing and/or eliminating homelessness, increasing home ownership for minorities, and increasing a preserving affordable housing. They provide financing up to 97% of the purchase price for first-time homebuyers.
You should consider a VA mortgage when you…
Are a first-time homebuyer
Have less than 5% to put down on a purchase
Want to borrow more and get a lower monthly payment than a standard fixed rate loan
Need assistance with your down payment
MHFA Advantages
Below-Market Interest Rates
Interest-Free Loans to help with down payment
Home Buyer Education Classes Required
MHFA Disadvantages
Income Limit Restrictions
Must be a First-Time Homebuyer (not owned a home in last 3 years)
Contact Us Today to learn more about Fixed Rate Mortgages.
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