Minnesota Housing just announced it has increased the down payment assistance amounts for both its deferred payment loan and the deferred payment plus loan.  In addition MHFA has eliminated the requirement to calculate the maximum down payment based on 5% of the purchase price.

The announcement specifically mentions that MHFA understands that current market conditions are making it difficult for buyers to get sellers to contribute to the buyers closing costs.  This is a win for anyone looking for down payment assistance.

The new amounts are as follows:

  • Deferred Payment Loan: Up to $7,500
  • Deferred Payment Loan Plus: Up to $8,500
  • Monthly Payment Loan: Up to $10,000

To see if you qualify just email tim@timswierczek.com my team will get back to you and check your eligibility.


Tim Swierczek

NMLS #103522

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