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New Start Up and Step Up Program Description Webpage Incorporates Conventional Product Descriptions
As part of our ongoing accessibility project, we consolidated three pdf resources (Start Up | Step Up Program Description, Fannie Mae Product Description, and Freddie Mac Product Description) into one Start Up and Step Up Program Description webpage.
- We eliminated the duplication of information across resources.
- Conventional eligibility criteria is now incorporated in the relevant sections of the Program Description (e.g. borrower eligibility, property eligibility, loan eligibility, etc.)
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Conventional Product Requirements section contains the information that is specific to conventional loans (e.g. DU/LPAinstructions, MI Coverage, UPMI, etc.).
- U.S. Bank Allregs Resources section provides clear instructions on where to find info on U.S. Bank Home Mortgage – HFA Division overlays and requirements.
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Unless marked as specific to Start Up or Step Up, all information in the program description is applicable to both Start Up and Step Up.
Test Your Fix Up Knowledge!
Test your Minnesota Housing knowledge by taking the Fix Up Loan Programs Quiz!
The Minnesota Housing Fix Up Quiz is now available on our eLearning training website. This is a fun way for everyone (not just our Fix Up lenders) to learn about our Fix Up loan program. The game closes on November 4, 2026.
The Deferred Payment and Deferred Payment Loan Plus (DPL/DPL+)
What first mortgage program can the DPL/DPL+ be used with?
What loan term does this second mortgage offer?
- Equal to the first mortgage term and is a deferred, balloon payment loan.
- The loan is repaid when the property is:
- Sold
- Title is transferred
- Home financed is no longer the primary residence
- When the first mortgage loan is refinanced, unless an approved Step Up subordination is used for the refinance
- The first mortgage loan is paid in full, prior to or at the end of the loan term
What is the maximum loan amount?
What is the interest rate and is there a monthly payment due?
- The DPL/DPL+ has a 0% interest rate with no monthly payment due
Are loan disclosures required?
- Yes! The DPL/DPL+ follows TRID requirements with the LE/CD or the use of the Partial Exemption Disclosure. The DPL/DPL+ is disclosed separately from the first mortgage.
Is there a post-closing liquid asset limit or minimum housing ratio with the DPL/DPL+?
- Yes! $13,000 post closing liquid asset limit
- The DPL/DPL+ has a minimum housing ratio of 25%.
- Review the DPL/DPL+ Eligibility Worksheet for additional Targeting Criteria.
Is the borrower required to meet the minimum contribution requirement when using the DPL/DPL+?
- Yes! $1000 or 1% of the purchase price, whichever is less.
What resources are available to learn more about the DPL/DPL+?
Check out these resources in the Homeownership Lender Toolkit:
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2026 and 2027 Monthly Training Webinars
Register to attend monthly webinars.
The series lays out detailed basics of our programs and criteria, how they work, and will walk through how to access tools and resources.
2026
2027
Monthly Update & Hot Topics Call
The Monthly Update & Hot Topics Call is for our lending and other community partners. 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 advanced topics. If you are a consumer, please visit www.mnhousing.gov to learn more about the programs we offer, the resources available to you and to find a participating lender.
Register for the 2026 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 9-10 a.m. Central time.
2026 Schedule:
- October 8
- November 12
- December 10
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. Since 2019, we've distributed $13 billion in housing investments, serving between 70,000 and 100,000 households a year.
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