First-time homebuyer programs

Income and home purchase-price requirements for MMP programs
Maximum gross household income
1–4 persons
$63,000
5 persons
$68,500
6 persons
$73,500
7 persons
$78,500
8 persons
$83,500
Maximum home purchase price
$298,125

The Minnesota Housing Finance Agency offers a lower-interest loan for first-time homebuyers.

Minnesota Mortgage Program (MMP)

The MMP program is a first-time homebuyer program that offers lower-interest rate loans. In order to qualify for the loan you must:

  • Be a first-time homebuyer (anyone that has not owned a home or interest in a home in the past three years).
  • Meet income requirements.
  • Purchase an eligible property (single-family, condominium, townhouse, or 2-unit duplex).
  • Have federal income tax return copies for the last three years.
  • Have acceptable credit.

Additional information on the MMP Program is available from the Minnesota Housing Finance Agency. Please contact Barb Collins at 651.296.8215 or barb.collins@state.mn.us or visit the MHFA’s information page on MMP