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  • Down Payment Assistance In Minnesota

  • Are You In Need Of Down Payment Assistance?

    Are you a first time home buyer? We can help!

    Up to $18,000 available

    Down Payment Assistance | Deferred Down Payment Assistance | Monthly Payment Assistance Loan | Step Up Program |

    Cambria Mortgage is proud to partner with the Minnesota Housing Finance Agency ( MHFA ) to offer Minnesota first time home buyers  some great home loan options, including down payment assistance programs.

    If you have OK Credit (640 score or higher), stable employment, and a few thousand in the bank for down payment.. 

    First time home buyers movingThan YOU could be a home owner, and We Can Help

    Buying a home is much more than a financial transaction. It means independence, growth, and a place to share with family and friends. We offer the programs and resources that will help you buy a home and be a successful homeowner.  Low and no down payment loans, down payment assistance programs, affordable fixed interest rates, help you with home buyer education classes, and a wide variety of loan assistance options, including both loans and grants to meet your needs.

    Figuring all this out can become overwhelming for many, so we suggest you don't try. We make it easy for you. Simply review the steps below on how to get started.

    Whether you’re just starting your home search or have already found that perfect dream home, Cambria Mortgage has you covered!

    Tired of Renting?  Want to Finally Buy A Home of Your Own? Have at least $1,000 for down payment?

    If you are renting for over $1200 a month, message me, and I'll send you three homes in your area you could own with about the same monthly payment. Better yet, complete a full application, and get fully Pre-Approved to buy your own home in a few business hours!

  • Who is eligible for a Minnesota Housing First Time Home Buyer programs with Down Payment Assistance

    To Be Eligible for these MN Housing Finance Agency programs, you:

    • Must be a first time home buyer (or have NOT owned a home the past 3-years) for the Start Up program.
    • You can also currently own a house, or have recently owned a home for the Step Up program
    • Have acceptable credit - Lowest acceptable score for any program is currently 640.
    • Have at least $1,000 of your own money for down payment (or 1% of the purchase price if home is under $100,000) *
    • Have household income less than the income limits (see below)
    • Meet additional household income limits for one of the two down payment assistance options (see below)
    • Buy a home less than the current maximum home price limit (see below)
    • Meet standard FHA loan, USDA Loan, VA Loan, or Conventional loan guidelines
    • Be a U.S. Citizen, or a qualified non-citizen

    Loan Qualifier

    We’re here to make the first time home buyer process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE First Time Home Buyer Qualifier.

  • Step 1: Basic Income and Qualification Limits

    Down Payment Assistance

    Are you eligible for down payment assistance? Follow these simple steps to see.


    Step 1: Meet Basic First Time Home Buyer Program Qualifications

    All clients must qualify for the standard main loan, which is typically a standard 30-year fixed loan, either FHA or conventional.

    You must also be a first time home buyer. This also means you have NOT owned a home in the past three years.  If you HAVE owned a home in the past three years, see the STEP UP PROGRAM GUIDELINES below.

    Next, you must meet Maximum Household Income limits, as follows:

  • First time home buyer income limits


    As of 3/2/2023 and subject to change

  • Your Household income may not exceed

    Household SizeMetro AreaRochester Area All Other Counties
    1-2 people$117300$111500$104000
    3+ people $134800$128200$111960
  • Step 2: Home Purchase Price Limits

    Next, the home you wish to buy must be selling for less than the home purchase price limits below (as of July 1, 2022)

  • Maximum Home Purchase Price (Start Up)

    Limit AreaMax Home Price
    Purchase Limit Metro Area$372600
    Purchase Limit Balance of State$349500

    On top of the basic first time home buyer loans, you may also qualify and get down payment assistance. The down payment assistance loan are not a gifts or grants, these are loans that must be paid back.

    There are two basic down payment assistance loans:

    Deferred Loan: No payments due today. Pay the loan back when you sell the home, or no longer occupy the home as your primary residence. This loan has stricter household income limits (see below).

    Monthly payment loan: A payment is due today along with your main mortgage loan payments. The interest rate is the same as your first mortgage, and is a 10-year loan. This program allows for higher household incomes (see below).


    There are two payback options.  

    DEFERRED PAYMENT ASSISTANCE: Maximum assistance loan is up to $16,500. No payments, no interest due today. You pay the loan back when you sell, refinance, or no longer occupy the home. Available with Start Up loans ONLY. If you've owned a home in the past three years, only the monthly payment assistance loan is available to you.

    DEFERRED PAYMENT PLUS: Maximum assistance loan is $15,000. Limited to limited target criteria. No payments, no interest due today. You pay the money back when you sell, refinance, or no longer occupy the home. Available with Start Up and Step Up Loans. Target criteria: Must meet two or more of these items: Household size of four or more

    • Single head of household with minor dependents
    • House payment no more than 28% of income
    • Household member with a disability

    To Qualify For The Deferred Payment Down Payment Assistance program:

    You must fall under the income limits below (as of July 1, 2022):

  • Deferred Assistance Loan Income Limits

    Household sizeMetro AreaRochester AreaBalance of State
    1-2 people$84000$84000$75000
    3 people $95000$95000$84000
    4 people $106000$106000$94000
    5 people $114000$114000$101000
    6 people $122000$122000$109000
    7+ people$131000$128000$116000
  • Step 4: Assistance Loans (with a monthly payment)

    Down payment assistance loans. Monthly payment required.

    If your household income is too high to qualify for the deferred payment assistance loan program, there is another possible option for you, known as the Monthly Payment Assistance Loan. This program has much higher household income limits, but a payment on the assistance loan is due each month along with your main loan payment.

    Monthly payment assistance loans can be used with either Start Up or Step Up, and can be used if over the deferred assistance income level

    • Loans up to $18,000
    • Payments are due on the assistance loan right away based on a 10-year loan
    • Interest rate equal to first mortgage rate
    • Is a 2nd Mortgage on the house

    To Qualify For The Monthly Payment Assistance Loan

    Your household income must be below the current limit (as of July 1, 2022)

  • Monthly Payment Assistance Loan Income Limits

    LocationIncome Limit
    11 County Metro$175000
    Dodge/Olmstead County$175400
    Balance of State$155500


    We also offer the Minnesota Housing Finance Agency STEP UP home buyer assistance program.

    Unlike the START UP program, which is for first time home buyers ONLY, the Step Up  program is an assistance program for repeat homebuyers - those who already have owned a home, or even those who currently own a home.  This assistance program has slightly different guidelines than the Start Up program.



    As with the Start Up program, all applicants must qualify for the basic loan, which can be a standard conventional loan, FHA loan, or VA loan.

    All applicants must have a middle credit score of at least 640.


    The applicants household income must fall below these limits (as of July 1, 2022)

  • Step Up Program Income Limits (with or without down payment assistance)

    11-County Metro Dodge/Olmstead Counties All Other Counties

    The STEP UP program is limited to homes priced under the maximum home price limits listed below (as of July 1, 2022)

  • Step Up Maximum House Purchase Price

    Location property Type Loan Limit
    11 County MetroOne Unit$448500
    11 County MetroDuplex$574150
    Balance of StateOne Unit$420680
    Balance of StateDuplex$4538650
  • How to APPLY for your First Time Home Buyer Loan and Down Payment Assistance in MN

    Applying is easy. Simply call our first time home buyer Loan Expert as (651) 552-3681, or APPLY ONLINE 24/7.

    By completing an application, you are not obligating yourself to anything. Rather you are simply giving us all the information needed to determine what programs you qualify for, how much house can you buy, what would the payments look like, and do you qualify for down payment assistance.

    If it all looks good, we can move to the next step, which is basically you submitting all your standard supporting documents, like pay stubs, W2's, bank statement, and Tax returns.

  •   The 11-county Twin Cities Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.

    Cambria Mortgage is a proud partner with Minnesota Housing Finance Agency.

     Minnesota Housing Agency partner

    While we strive to keep these items up to date, income limits and other program requirements do change. Always contact your Cambria Mortgage Loan officer for the most current information.

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