 Having issues opening eNews links? Here are few suggestions for easier viewing of links:
- Try using Firefox or Edge as the internet browser
- Make sure you have cleared your cache
- Select "View it as a webpage"
First-Generation Homebuyer Loan Program Update
Funds are going fast! As of today, approximately $6 million remains in the Minnesota Housing First-Generation Homebuyer Loan Program. To keep you informed as funds draw down, we will continue to update the First-Generation Homebuyer Loan commitment tracker on our First-Generation Homebuyer Loan webpage. This pie chart shows the percentage of funds used versus the percentage of funds available.
Please review your pipeline for any loans that are not locked that might use the First-Generation Homebuyer Loan Program and plan accordingly.
Manual commitment process coming soon
In the near future we will transition to a manual commitment request process for the Minnesota Housing First-Generation Homebuyer Loan to enable us to verify fund availability before committing the First-Generation Homebuyer Loan funds. At that point lenders will no longer be able to lock a First-Generation Homebuyer Loan and/or make updates to existing First-Generation Homebuyer Loans in the Commitment System on their own. First-Generation Homebuyer Loan funds will be committed on a first come, first served basis. Once all the First-Generation Homebuyer Loan funds have been exhausted, we will no longer be able to accept any more commitments.
To learn how to submit commitments manually, register for one of the Critical Lender Update calls:
First-Generation Homebuyer Education Requirement Timing
As funds are winding down for the Minnesota Housing First-Generation Homebuyer Loan Program, it’s more important than ever to understand the homebuyer education requirements for the two statewide first-generation homebuyer programs.
Additional information about the eligible homebuyer education resources and other specific program requirements can be found on each of the program webpages. The two programs cannot be combined.
Minnesota Housing Closed for Thanksgiving
Minnesota Housing will be closed on Thursday, November 28 and Friday, November 29 for Thanksgiving. Lenders will be unable to lock new loans between 5 p.m. on Wednesday, November 27 and 10 a.m. on Monday, December 2.
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.
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2023, the Agency distributed $1.85 billion in resources and served 69,500 households. Visit our website to learn more.
|
