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DPA Funds Ineligible to Pay for Real Estate Agent Commissions
Minnesota Housing downpayment and closing cost loans cannot be used to pay for real estate agent commissions in transactions. We will continue to monitor the real estate market for changes resulting from the National Association of REALTORS® settlement and impacts to borrowers and re-evaluate our policies as needed based on market and financial conditions.
Mortgage Cadence Security Enhancement Delayed
The effective date for the upcoming Mortgage Cadence security enhancement has been delayed. Once the enhancement is in effect, to access our commitment system all users must have updated TLS Ciphers for Chrome, Firefox and Edge browsers. We will let you know once Mortgage Cadence confirms the effective date. For more details, see our January 2, 2025 eNews.
Minnesota Housing Closed January 20
Minnesota Housing will be closed on Monday, January 20 in observance of Dr. Martin Luther King Jr. Day. Lenders will be unable to lock new loans from 5 p.m. on Friday, January 17 to 10 a.m. on Tuesday, January 21.
Reminder: First-Generation Homebuyer Loan Program is Closed
The Minnesota Housing First-Generation Homebuyer Loan funds have been exhausted and the program is now closed. We are unable to accept any more First-Generation Homebuyer Loan Commitment Request forms. 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.
Minnesota Housing would like to thank all our partners for participating in the Minnesota Housing’s First-Generation Homebuyer Loan Program and contributing to its success!
2025 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.
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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