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2020 Census Tract Information Updates
Minnesota Housing sets aside funds from the Start Up Loan Program to make mortgage loans to first-time homebuyers in Targeted Areas. Targeted Areas are certain census tracts in the state in which 70% of the families have an annual income of 80% or less of the statewide median income, or areas of chronic economic distress. Lenders can view a list and a map of all the census tracts in Minnesota with the Targeted Area Census Tracts document.
Lenders must determine if their Start Up borrowers are in these census tracts.
For lenders generating documents from the Minnesota Housing commitment system:
- The commitment system will determine if the property is in a targeted or non-targeted area and automatically populate the Subsidy Recapture form.
For lenders who do not generate documents from the Minnesota Housing commitment system:
Reminder: State Child Tax Credit and Start Up Income Eligibility
Minnesota Housing programs exclude the new state child tax credit from the program eligibility income calculation. The Start Up Income Eligibility Worksheet has been updated to reflect this.
Monthly Update & Hot Topics Call
The Monthly Update & Hot Topics Call is open for everyone to attend, not just underwriters. During these calls we review recent Minnesota Housing updates and important information to help you originate and process our loans. Lenders are welcome to submit questions or topics to discuss on the call. This is a great venue to have more in-depth discussion on advance topics.
Please go here to register for the 2024 calls.
When you register, you will be signed up for all sessions in the series but can attend the sessions that work for you. Most calls occur on the second Thursday of the month from 9 a.m. - 10 a.m. Central time.
2024 Schedule:
- February 8
- March 14
- April 11
- May 9
- June 13
- July 11
- August 8
- September 12
- October 10
- November 14
Monthly Training Webinars
Join Minnesota Housing for our monthly webinar series. These trainings lay out the basics of Start Up, Step Up, and our three Downpayment and Closing Cost loan options. These webinars also provide tips and best practices to help you successfully originate and close Minnesota Housing loans.
Questions?
You can reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 8 a.m. and 5 p.m. on business days.
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