Minnesota Housing HOME HELP

Minnesota Housing provides the opportunity for eligible homebuyers 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) and the HOME Homeowner Entry Loan Program (HOME HELP).

The HOME HELP loan is a deferred interest-free loan, which must be fully repaid within the first six years of the loan if the borrower sells or vacates the property. After the sixth year, 70% of the loan is forgiven and the remaining 30% of the HOME HELP loan amount is repaid when the loan matures, the property is sold, or is no longer owner-occupied.

First time homebuyers interested in downpayment and closing costs assistance should contact a Minnesota Housing participating lender prior to signing a purchase agreement. Participating lenders can determine the level of eligibility.

Program Eligibility:
You may be eligible for the HOME Homeowner Entry Loan Program (HOME HELP), if you:

• Are a first-time homebuyer
• Are eligible for the CASA program
• Have an income at or below Minnesota Housing HOME HELP program limits
• Qualify as an eligible target market for one of the CASA Community Initiatives in either the Twin Cities Metro Area or Greater Minnesota approved to offer HOME HELP.

Frequently Asked Questions (FAQs)

Contact an approved HOME HELP lender in the Twin Cities Metro Area or Greater Minnesota to apply.