What down payment assistance programs are available in Minnesota?

Minnesota offers the MHFA Start Up (up to $18,000 for first-time buyers), MHFA Step Up (up to $18,000 for repeat buyers), Welcome Home Program (up to $50,000 forgivable), First Generation Homebuyer programs, USDA zero-down, and VA zero-down loans.

How much down payment assistance can I get in Minnesota?

Depending on eligibility, Minnesota buyers can receive $5,000 to $50,000. The Welcome Home Program offers up to $50,000 forgivable over 10 years. MHFA programs provide up to $18,000 in deferred or monthly payment loans.

What credit score do I need for MHFA down payment assistance in Minnesota?

Most MHFA programs require a minimum 620 credit score. Travis Goltz can help buyers with lower scores identify steps to improve eligibility before applying.

Minnesota Down Payment Assistance & Grants 2026

Name: Travis Goltz - Granite Bank Mortgage
Address: Champlin, MN, 55316, US
Telephone: (763) 360-4507
Price range: $$
Rating: 4.9

Minnesota Down Payment Assistance Programs — 2026

These are the primary programs available to Minnesota homebuyers this year. Many buyers qualify for more than one — the right combination depends on your specific situation.

First-Time Buyers

MHFA Start Up Program

Up to $18,000

Minnesota's flagship program for first-time buyers. Pairs with an MHFA first mortgage and offers a deferred payment loan (no payments until you sell or refinance) or monthly payment option.

Key Requirements620+ credit score · Income limits apply · First-time buyer required · $1,000 own funds · Homebuyer education course

Repeat Buyers

MHFA Step Up Program

Up to $18,000

Available to buyers who have owned a home in the past 3 years, or those with incomes above Start Up limits. Same deferred or monthly payment options. Can also be used to refinance.

Key Requirements620+ credit score · Higher income limits · Not required to be first-time buyer · $1,000 own funds · Homebuyer education course

Highest Assistance

Welcome Home & First Generation Programs

Up to $50,000

The Welcome Home Program offers up to $50,000 in forgivable assistance — forgiven 10% per year over 10 years as long as the home remains your primary residence. First Generation programs serve buyers whose parents never owned a home.

Key RequirementsIncome limits apply · Primary residence required · First-time buyer for most programs · Parents did not own (First Gen only) · Approved lender required

Zero Down

USDA Rural Development

0% Down Payment

100% financing for eligible properties in rural and suburban Minnesota. No private mortgage insurance and competitive fixed rates. Many areas outside the Twin Cities metro qualify.

Key Requirements620+ credit score · Income limits apply · Property in eligible rural area · Primary residence only

Veterans & Military

VA Loan — Zero Down

0% Down Payment

No down payment, no mortgage insurance, and competitive rates exclusively for eligible veterans, active-duty service members, and surviving spouses.

Key RequirementsMilitary service eligibility · Certificate of Eligibility · 580+ credit score typical · Primary residence only

Conventional

Low Down Payment Conventional

As Low As 3% Down

Fannie Mae-backed conventional loans starting at 3% down. Can be layered with MHFA assistance programs to cover the down payment entirely. Travis is a Fannie Mae approved seller.

Key Requirements620+ credit score · Income limits may apply · First-time buyer not always required · Allows non-occupant co-borrowers

Not sure which programs apply to you? That's exactly what a free 15-minute call is for.

Check My Eligibility — Free

Do You Qualify?

Most buyers are surprised to find they meet the requirements. Here's what lenders look at.

📊

Credit Score

Most MHFA programs require a 620 minimum. If your score needs work, there are still paths forward.

620+ for most programs

💵

Household Income

Income limits vary by program, household size, and county. Moderate and above-average incomes often still qualify.

Varies by program

🏠

First-Time Buyer Status

Defined as not having owned a home in the past 3 years. Programs like Step Up don't require this.

Required for some only

💰

Own Contribution

Some programs require as little as $1,000 from your own savings. Gift funds are often allowed.

As low as $1,000

The only way to know for certain is to review your specific situation.

Find Out What I Qualify For

See What Minnesota Programs You Qualify For

There are multiple assistance programs available in Minnesota and the right combination depends on your income, credit, and situation. Fill out the form and Travis will review your options personally.

                    Typical assistance in Minnesota: $5,000 – $50,000
                    Depending on program eligibility, income, and household qualifications
                

Free, no obligation — no commitment required to find out what's available
Programs can stack — MHFA assistance + conventional loan can cover your entire down payment
Direct access to Travis — not a call center, a real mortgage professional reviews your file
Fannie Mae approved lender — direct access to conventional products that pair with state assistance

"I was on the verge of giving up, but Travis found a down payment assistance program I didn't know existed. We structured the loan the right way and 45 days later I had keys in my hand."

— Ceara, First-Time Homeowner in Minnesota

Check Your Minnesota Options

Free · No obligation · Takes 2 minutes

Travis Goltz — Minnesota Mortgage Lender, Branch Manager Granite Bank

Why Work With Travis for Minnesota Down Payment Assistance?

Not every lender is approved to offer MHFA programs. Knowing which programs exist, how they interact with different loan products, and how to stack them correctly is the difference between leaving thousands on the table and closing with minimal out-of-pocket cost.

Travis has helped hundreds of Minnesota buyers — first-timers, move-up buyers, and investors — navigate the full mortgage process from application to keys in hand.

Fannie Mae Approved Seller: Direct access to conventional products that pair with MHFA assistance.
120-Year Bank Backing: The stability and flexibility of Granite Bank behind every loan.
Direct Access: You get Travis's number. Not a 1-800 call center.
No Surprises: Transparent on costs, timeline, and program requirements from day one.
Licensed in All 50 States: Local expertise, nationwide reach.

Check My Eligibility Call (763) 360-4507

Travis Goltz · NMLS #351337 · Branch Manager, Granite Bank NMLS #405434 · Member FDIC · Equal Housing Lender

Common Questions About Minnesota Down Payment Assistance

Do I have to be a first-time buyer to qualify? +

Not always. The MHFA Step Up program is available to buyers who have owned a home within the past 3 years. First-time buyer status is required for Start Up and First Generation programs, but not all programs require it.

Can I combine multiple assistance programs? +

In many cases, yes. A common stack in Minnesota is an MHFA first mortgage paired with a Deferred Payment Loan. When layered correctly with a conventional or FHA loan, this combination can cover your entire down payment and a portion of closing costs.

Is down payment assistance a grant or a loan I have to repay? +

It depends on the program. MHFA Deferred Payment Loans require repayment when you sell or refinance — but there are no monthly payments in the meantime. The Welcome Home Program is forgivable at 10% per year over 10 years. Travis will walk you through repayment terms before you commit.

What credit score do I need? +

Most MHFA programs require a minimum 620 credit score. If your score is below that, Travis can help you identify steps to improve it before applying so you don't miss out on the programs you're targeting.

What are the income limits for Minnesota programs? +

Income limits vary by program, household size, and county. The Twin Cities metro typically has higher limits than greater Minnesota. Many buyers with moderate to above-average household incomes still qualify for at least one program.

How long does the process take? +

From application to closing typically takes 30–45 days. Getting pre-approved with assistance programs identified usually takes just a few business days. Some programs have limited funding and operate first-come, first-served — starting sooner protects your options.

Minnesota Down PaymentAssistance & Grants