Having trouble viewing this? View it as a webpage

Mortgage Loans Document Update| #30-2024

We have made changes to the following forms:

• First-Generation Homebuyer Affidavit
• Borrower Affidavit (Start Up)
• Start Up Program Required Forms Summary
• Required Forms Summary Start Up & First-Generation Homebuyer Loan

What changed in these documents?

• First-Generation Homebuyer Affidavit:
  • The First-Generation Borrower will be required to check a box to certify their parents or prior legal guardians never owned a home, or owned a home but they lost it due to foreclosure; or they aged out of foster care or they became emancipated.
  • New section for the Parents’/Guardians’ last known address
  • Updated definitions section

• Borrower Affidavit (Start Up):
  • Updated Ownership interest to include marital interest in a principal residence in the past three years.
• Start Up Program Required Forms Summary and Required Forms Summary Start Up & First Generation Homebuyer Loan:
  • We updated both forms to incorporate all the changes to First-Generation Homebuyer Affidavit and the Borrower Affidavit (Start Up) noted above. The summary form is not required but is recommended to share with borrower to help them understand the Minnesota Housing forms they will sign.

Timeline:

The updated First-Generation Homebuyer Affidavit and Borrower Affidavit (Start Up) (version date 5.23.24) may be used for loans closed on or after June 6 and must be used for loans locked on or after June 6, 2024.

NOTE: If a loan was locked prior to June 6 includes an executed First-Generation Homebuyer Affidavit (version 3.7.24) or Borrower Affidavit (Start Up) (version 4.10.24) Minnesota Housing will not require the borrower to re-execute the form using the new version.

Where can I find the documents?
Click here to access editable Minnesota Housing loan documents for loans committed in the  Commitment System.
The webpage is located on the Partner Portal section of our website. The portal is passcode protected. The passcode is partner.

Questions? Contact us at SF.BSPS.MHFA@state.mn.us.

www.mnhousing.gov