Minnesota First-Time Home Buyer Programs of 2021
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A first-time home buyer in Minnesota can take advantage of loan programs designed to make getting a mortgage more affordable.
Learn more about first-time home buyer programs in Minnesota and across the country, and discover what it takes to qualify.
National first-time home buyer programs
Loans that make it easier for first-timers to buy a home exist in all 50 states. No matter where you live, ask potential lenders about mortgage options to overcome limited income, low credit scores or lack of a down payment.
Conventional mortgage
Best for:
Low down payments, limited mortgage insurance premiums
What you need to know:
A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.
Mortgage loans from our partners
on New American Funding
on New American Funding
Mortgage loans from our partners
on New American Funding
on New American Funding