Participating Lenders

Minnesota Housing has been helping buyers finance and rehabilitate their homes for more than 50 years. We partner with a statewide network of approved banks, credit unions, mortgage companies, nonprofits and government entities to offer safe and affordable home loans.

Become A Participating Lender!

Start Up/Step Up

Start Up/Step UP

Start Up

The Start Up program is designed for first-time homebuyers, defined as those who "have not had an ownership interest in a principal residence in the last three years.

Key Features

Income Limits up to $134,800
Acquisition cost limits up to $372,600
Down payment loans up to $18,000
Eligible Products include FHA, VA, RD and Conventional loans with Fannie Mae and Freddie Mac

Step Up

The Step Up program offers the option to refinance a current Minnesota Housing mortgage or to purchase a home as a first-time homebuyer if over income for the Start Up program.

Key Features

Income Limits Up to $175,400
Acquisition cost limits up to $659,550
Down payment loan up to $18,000
Eligible Products include FHA, VA, RD and Conventional loans with Fannie Mae and Freddie Mac

Become a Start Up/Step Up Participating Lender

Application to participate in Minnesota Housing programs is a dual approval process. Lenders must be approved by both U.S. Bank Home Mortgage-HFA division and Minnesota Housing.

Read the Lock, Fee and Service Release Premium (SRP) Guide.

Becoming A Minnesota Housing Approved Lender

Application to participate in Minnesota Housing programs is a dual approval process. Lenders must be approved by both U.S. Bank Home Mortgage-HFA division and Minnesota Housing.

Read the Lock, Fee and Service Release Premium (SRP) Guide.

For Start Up/Step Up program information or to become a lender, contact christina.akinola@state.mn.us.

Fix Up and Community Fix Up

Fix Up

The Fix Up Loan Program allows eligible homeowners to finance up to $75,000 in permanent home improvements. The program is available statewide, and homeowners access it by contacting a participating lender, who originates, underwrites and closes the Fix Up loan. AmeriNat services all Fix Up and Community Fix Up loans.

Key Features

Affordable, fixed interest rates
Higher loan-to-value ratio compared with traditional renovation loan products
Secured and unsecured loan options
In most cases, homeowners can hire a contractor or do the work themselves
No income limits for energy and accessibility loans (see income limits for other Fix Up loans)
No required inspections
Projects in progress or completed within 120 days are eligible for financing

Community Fix Up

The Community Fix Up Loan Program is an add-on program for eligible Fix Up lending partners and provides affordable financing to support partnerships that target resources.

Possible Options

Discount loan initiatives
Loan loss reserve fund
Value-added services and/or interest rate discount
Funds are available to the approved initiative for two years

Become a Fix Up Participating Lender

The process is simple to become a participating Fix Up lender! A lender signs a participation agreement and pays a one-time $250 participation fee. Once these are received, Minnesota Housing staff sets up the company in our commitment system, schedules an onboarding meeting and connects loan officers with additional training resources.

For Fix Up or Community Fix Up program information or to become a lender, contact Kirsten.partenheimer@state.mn.us.

Rehabilitation Loan Program and Emergency & Accessibility Loan Program

The Rehabilitation Loan Program and Emergency & Accessibility Loan Program (RLP/ELP) assist low-income homeowners in financing home improvements that directly affect the safety, habitability, energy efficiency or accessibility of their homes. The Emergency & Accessibility Loan Program is available for home improvements that address emergency conditions of the home or accessibility needs for a household resident with a disability.

Program Features

Maximum loan amounts up to $37,500
Maximum loan term is 15 years for properties taxed as real property and 10 years for manufactured homes taxed as personal property
Loans are forgiven if borrower does not sell, transfer title, or cease to occupy the property during the loan term.
Various property types are eligible including, but not limited to, single family homes, duplexes, a condominium unit, and manufactured homes taxed as real or personal property

Lender Compensation

RLP: Up to $4,375
ELP: Up to $1,200

Additional Information

For RLP/ELP program information or to become a lender, contact rlp.elp@state.mn.us.