 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"
Updated Start Up Manual, Homeownership Lender Toolkit and First-Generation Loan Program Webpage
Minnesota Housing has removed forms and resources related to our First-Generation Homebuyer Loan Program. These resources have been removed from the Homeownership Lender Toolkit and the First-Generation Homebuyer Loan Program webpage, and all references to the First-Generation Homebuyer Loan Program have been removed from the Start Up Manual (effective date 4/16/2025).
Document Updates
Appliance Form change:
- In an effort to simplify forms we removed the property address from the Appliance Form document.
- The Appliance Form has been updated in the Forms Guide and Glossary and the commitment system as of today.
Household Size Statement change:
- Added the following columns to assist lenders to better capture accurate details about the household size:
- Relationship to Borrower
- Is this individual listed on the URLA as a dependent?
- The Household Size Statement has been updated in the Forms Guide and Glossary as of today.
Registration is filling fast—Register Now!
Second Annual Closing the Gap Conference: Building a System for Successful Homeownership
Learn how you can become more effective at reaching, serving and developing long-lasting relationships with historically excluded borrowers at the second annual Closing the Gap Conference. At this event, you will learn about resources to help build connections, increase engagement, and have an opportunity to network with local service provider organizations. We will also hold a panel discussion with industry professionals and outreach experts within the homeownership system. Learn from our community partners and help make a difference in reducing the homeownership gap. We hope you will join us!
When: Wednesday, April 23, 2025 from 9 a.m. - 1 p.m. | Registration starts at 8:30 a.m.
Where: International Institute of Minnesota, 1694 Como Ave., St. Paul, MN 55108
Audience: Mortgage industry professionals and real estate agents
When does the 28% housing ratio minimum apply?
The 28% housing ratio minimum only applies to a Start Up loan when using the Deferred Payment Loan or Deferred Payment Loan Plus downpayment assistance loans.
If the Start Up loan has a Monthly Payment Loan added, is there a 28% housing ratio minimum requirement? No, this only applies when using the Deferred Payment Loan programs.
Does the Monthly Payment Loan with Step Up have to follow the 28% housing ratio minimum? No, only Start Up with a Deferred Payment Loan.
You can find out more information in the Downpayment and Closing Cost Loans Comparison Chart located in the Lender Toolkit. For further questions please reach out to the Partner Solutions Team.
|
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.
Monthly Update & Hot Topics Call
The Monthly Update & Hot Topics Call is open for everyone to attend. 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.
Register for the 2025 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.
2025 Schedule:
- May 8
- June 12
- July 10
- August 14
- September 11
- October 9
- November 13
- December 11
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 2024, we distributed $1.96 billion in resources and served 73,650 households. Visit our website to learn more.
|
