Minnesota Housing Step Up Program
Step Up is a non-first-time homebuyer loan program that helps low and moderate income Minnesotans buy a home or refinance their home. The Step Up Program provides affordable, low, fixed interest rates for eligible borrowers statewide. Visit www.mnhousing.gov for full program details.
- Low, affordable Minnesota Housing interest rates
- Access to Minnesota Housing’s Monthly Payment Loan (insert link to section) for downpayment and closing costs.
- Conventional product available with no mortgage insurance—only 3% downpayment needed
- Lower private mortgage insurance rates for conventional-insured loans—only 3% downpayment needed
- FHA 203(k) Streamlined purchase/repair product option available
- Premium Pricing option allows refinance borrowers to reduce their out-of-pocket closing costs. Monthly Payment Loan not available with this option.
You may be eligible if you:
- Have an income at or below Minnesota Housing income limits
- Purchase a home under the $298,125 acquisition cost limit for 11-county metro area