 First-Generation Homebuyer Loan Program Ending Soon
Funds are going fast! As of today, approximately $1 million remains in the Minnesota Housing First-Generation Homebuyer Loan Program. That means we have enough funds for about 28 more loans to be locked. To keep you informed as funds draw down, we will be updating the First-Generation Homebuyer Loan commitment tracker on our First-Generation Homebuyer Loan webpage twice a day. Please check the tracker regularly and communicate to prospective eligible homebuyers that funds are limited and will soon run out.
Please talk to any eligible First-Generation Homebuyer clients you are working with to make sure they understand that to utilize the Minnesota Housing First-Generation Homebuyer Loan Program they will need to lock as soon as possible before funds run out.
If you’d like to explore additional DPA resources that may be available for your clients, check out our other Homeownership Programs on our website and the Minnesota Homeownership Center website. There are several first-generation homebuyer programs still available, such as the First-Generation Homebuyers Community Down Payment Assistance Fund.
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.
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.
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