Minnesota Housing CASA Program
Minnesota Housing's Community Activity Set Aside (CASA) program is a first time homebuyer loan program that helps low to moderate income Minnesotans buy a home. The affordable, low, fixed interest rates are available to eligible homebuyers through lenders participating in initiatives in several communities around the state. Homebuyer education is required for all borrowers receiving a CASA loan.
You may be eligible, if you:
- Are a first-time homebuyer (meaning that you have not owned a home for the past three years)
- Have federal income tax return copies for the last 3 years
- Have acceptable credit
- Have an income at or below prescribed Minnesota Housing income limits and want to buy a qualifying home
- Are purchasing a home within the geographic service area of a CASA Community initiative
MHFA's current CASA initiatives can be found in our Twin Cities Metro Area CASA Matrix or our Greater Minnesota CASA Matrix listed by area and lender.
Downpayment and Closing Cost Assistance
Minnesota Housing provides the opportunity for eligible targeted borrowers who qualify for a Minnesota Housing loan to receive an interest-free, deferred loan to help with downpayment and closing costs through the Homeownership Assistance Fund (HAF).
First time homebuyers interested in using HAF should contact a Minnesota Housing participating lender prior to signing a purchase agreement. Participating lenders can determine the level of HAF eligibility to maximize your purchasing power.
For more information
For more information on the CASA Program, call the Minnesota Housing Consumer Information Line at 651-296-8215 or 1-800-710-8871.