 Increased Income Limits Effective Today
The following 2022 income limits will go into effect for loans locked on or after today, June 1, 2022:
Start Up Income Limits
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Household Size
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11-County Twin Cities Metro Area*
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Dodge and Olmsted Counties
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All Other Counties
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1-2 Person
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$117,300
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$111,500
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$104,000
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3+ Person
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$134,800
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$128,200
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$119,600
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Step Up Income Limits
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11-County Twin Cities Metro Area*
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Dodge and Olmsted Counties
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All Other Counties
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$175,400
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$175,400
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$155,500
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Monthly Payment Loan (2nd mortgage available with Start Up or Step Up)
No separate income limits for Monthly Payment Loan. See the Start Up and Step Up income limits above.
Deferred Payment Loan and Deferred Payment Loan Plus
(2nd mortgage available only with Start Up)
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Household Size
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11-County Twin Cities Metro Area*
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Dodge and Olmsted Counties
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All Other Counties
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1- 2 Person
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$84,000
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$84,000
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$75,000
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3 Person
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$95,000
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$95,000
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$84,000
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4 Person
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$106,000
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$106,000
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$94,000
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5 Person
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$114,000
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$114,000
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$101,000
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6 Person
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$122,000
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$122,000
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$109,000
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7+ Person
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$131,000
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$128,200
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$116,000
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The new income limits are posted to our website.
*The 11-county Twin Cities Metro Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.
Increased Start Up Acquisition Cost Limits Effective Today
Start Up's acquisition cost limits have increased for loans locked on or after today, June 1, 2022:
11-county Twin Cities Metro Area: $372,600
All other counties: $349,500
Upcoming Lender Trainings
Join Minnesota Housing for our series of monthly training webinars. The trainings will lay out the basics of our Start Up, Step Up, or Downpayment and Closing Cost Loans, how they work, what eligibility criteria is required and review how to access tools and resources to help you successfully originate loans. These instructor led trainings provide a great opportunity to ask questions. We look forward to partnering with you!
The webinars take place on Thursdays from 9:00 - 10:30 a.m. CST. Please click the links below to register:
Monthly Underwriter Call
Join us for monthly calls to review recent Minnesota Housing updates and important information to help you originate and process our loans. Please click here to register.
When you register, you will be signed up for all sessions in the series but can attend the sessions that work for you. Calls occur on the second Thursday of the month from 9:00 a.m. - 10:00 a.m. CST.
Upcoming Sessions:
- Thursday, June 9
- Thursday, July 14
eLearning Training Courses
Are you interested in learning more about Minnesota Housing loan programs, requirements, and how they work? The eLearning training courses are a great place to start. These self-paced training modules lay out the basics of the Start Up and Step Up programs, eligibility and income requirements, down payment and closing cost loans, and much more! To view a complete list of courses, visit the Homeownership Training page and select eLearning Courses.
Questions?
You can reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 8:00 a.m. and 5:00 p.m. on business days.
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