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Dakota County MN First Time Home Buyer Loan Program for 2018

Whether you are buying an existing home or building a new one - a Dakota County First Time Home buyer Loan may help you make homeownership a reality. Homebuyers accessing a First Time Homebuyer Loan may qualify for a below market interest rate may also be eligible for Down payment and Closing Cost Assistance.

Dakota County First Time Home Buyer money - Apply online and be ready to go!

Up to $8,500 available in down payment and closing cost assistance to those who qualify

Most Minnesota city, and county mortgage and down payment assistance funds are limited, and on a first-come, first-serve basis, including this one.  Contact us as early as possible in the home buying process to be sure you are qualified.  If you have questions about the home buying process, call 651-552-3681, or APPLY online 24-hours a day via our secure application. There are no costs or obligations.

To apply for a Dakota County First Time Homebuyer Loan, just apply online. We will review your income, credit, and overall picture to determine whether or not you will qualify for this, or any other first time home buyer program in Minnesota.

It is important that you know not all lenders are able to do the Dakota County First Time home buyer Program. We are proud to be a provider of many of these loans, including the Dakota County First-time home buyer down payment assistance program.
Knowing your full exact situation will help us determine if a government assistance loan programs are right for you. Being pre-approved also gives you ultimate buying power and the upper hand in negotiating.

There are no costs or obligations to APPLY


Down payment & Closing Cost Assistance Program
In addition to mortgage financing, eligible buyers using a Dakota County First Time Home buyer Loan can access funds through the CDA's Down payment and Closing Cost Assistance Program to help with the initial costs of owning a home. The CDA offers two types of down payment and closing cost assistance. Each may be used individually or in combination with each other.

In addition to grant assistance, income eligible buyers may access down payment and closing cost assistance loans of up $8,500. These loans are zero interest, deferred loans that are paid back at the end of the 30-year mortgage term or when the home is sold or refinanced. Eligibility is based on the buyer's gross household income adjusted for family size and the successful completion of a Housing Quality Standards Inspection.

Down Payment and Closing Cost Assistance Program Guideline

Basic Loan Requirement

Credit Score requirements

Down Payment Required:

Debt ratio requirement

Eligibility Criteria

Income Limits

Household income - includes income of applicants, spouses, and persons expected to be living in the home

House price limits

Co-signers (not to be confused with co-owner)

Eligible properties

Home Buyer Education Classes

Down Payment Assistance Amounts

Down payment and closing cost assistance funds are reserved on a first-come, first-serve basis. Funds may only be reserved AFTER your bought a home and underwriting has begun.


Home Stretch Homebuyer Education Program
The Home Stretch Program teaches potential homebuyers about the entire home buying process and the responsibilities of homeownership. Topics covered in these monthly seminars include: Budgeting and Credit Issues, Financing and Qualifying for a Home, Shopping for a Home, The Purchase Process, Closing on a Home and Life as a Homeowner.

Home buyer education is taught by professionals in the home buying field. Home Stretch is a nine-hour course that is held monthly. Either over three days from 6 to 9 p.m. each night, or an all day Saturday class. Participants must attend all three nights or the single all day session full day to complete the course. The cost to attend is $15 per household for Dakota County residents and $25 per household for non-residents.

Pre-registration is required. Call 651-552-3681 to register or visit the Home Ownership Center's Web site to find a local first time home buyer class.

FRAMEWORK is a high quality, fun way to learn how to be a smart, confident, and successful homeowner. It provides the facts you need to become well-informed about every step in the process. Many lenders have approved Framework to meet their requirements for homebuyer education. Check with your Loan Officer to make sure online homebuyer education is accepted. This online class costs $75.00

Visit FRAMEWORK Website to get started with the ONLINE class

If you have questions about the home buying process, call 651-552-3681, or   online 24-hours a day via our secure application. There are no costs or obligations.

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33 Wentworth Ave E - Suite 290
St Paul, MN 55118

(651) 552-3681  

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Our services available only for properties located in Minnesota and Wisconsin. Licensed as Mortgages Unlimited, Inc. NMLS # 225504. As a Lenders One partner, we are part of the 3rd Largest Retail Mortgage Originators in the country. We are consistently ranked as one of the top mortgage lenders in Minnesota by Minneapolis St Paul Business Journal. Any use or duplication of any materials is strictly prohibited.  All images, text, and materials Copyright 1998 - 2018 Joe Metzler. This is the private web site of Joe Metzler, NMLS #274132. All Rights Reserved.