8 Best Minnesota Housing Finance Agency Lenders of 2021
These mortgage lenders rank among the top participants in Minnesota Housing Finance Agency loan programs.
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The Minnesota Housing Finance Agency helps the state's first-time home buyers with programs to help pay for down payment and closing costs. To get financial assistance, you'll need to work with an MHFA participating lender.
NerdWallet has reviewed several MHFA participating lenders and chose some of the top-rated options in several categories. We've also listed a few MHFA lenders that have not been reviewed but underwrite a lot of mortgages in Minnesota.
The Minnesota Housing Finance Agency helps the state's first-time home buyers with programs to help pay for down payment and closing costs. To get financial assistance, you'll need to work with an MHFA participating lender.
NerdWallet has reviewed several MHFA participating lenders and chose some of the top-rated options in several categories. We've also listed a few MHFA lenders that have not been reviewed but underwrite a lot of mortgages in Minnesota.
Best Minnesota Housing Finance Agency Lenders
Lender | NerdWallet rating | Min. credit score | Min. down payment | Learn more |
---|---|---|---|---|
![]() New American Funding: NMLS#6606 Learn more at New American Funding | Best for buyers with nontraditional credit | 620 | 3% | Learn more at New American Funding |
![]() Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate | Best for online lending | 620 | 3% | Learn more at Guaranteed Rate |
![]() Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage | Best for face-to-face service | 620 | 3% | Learn more at Fairway Independent Mortgage |
![]() loanDepot: NMLS#174457 | Best for FHA loans | 520 | 3.5% | Read review |
![]() PrimeLending: NMLS#13649 | Best for FHA loans | 580 | 3.5% | Read review |
![]() Caliber: NMLS#15622 | Best for VA loans | 580 | 0% | Read review |
![]() Wells Fargo: NMLS#399801 | Best for face-to-face service | 620 | 3% | Read review |
![]() Stearns Lending: NMLS#1854 | Best for government-backed loans | 620 | 3% | Read review |

at New American Funding
New American Funding: NMLS#6606

Min. credit score
620Min. down payment
3%at New American Funding

at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. credit score
620Min. down payment
3%at Guaranteed Rate

at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289

Min. credit score
620Min. down payment
3%at Fairway Independent Mortgage
loanDepot: NMLS#174457

Min. credit score
520Min. down payment
3.5%PrimeLending: NMLS#13649

Min. credit score
580Min. down payment
3.5%Caliber: NMLS#15622

Min. credit score
580Min. down payment
0%Wells Fargo: NMLS#399801

Min. credit score
620Min. down payment
3%Stearns Lending: NMLS#1854

Min. credit score
620Min. down payment
3%More MHFA participating lenders
Here are some additional lenders that participate in Minnesota Housing Finance Agency programs. While they haven’t been reviewed by NerdWallet, they are among the highest volume mortgage originators in Minnesota.
Touts a "free and easy pre-qualification process."
Has plentiful branches in the Twin Cities and west central Minnesota.
Offers an online application.
Promises $20,000 to the home seller if a loan doesn't close according to the terms of the approval letter.
Provides online tracking of the mortgage application.
Has mortgage loan officers available in five Minnesota cities.
Has an online application.
Offers no- and low-down-payment mortgage options, such as FHA and VA loans.
Promises borrowers a $100 gift card for comparing a competitor's loan offer with a HomeServices pre-approval letter.
More from NerdWallet:
Last updated on January 21, 2021
Methodology
To recap our selections...
NerdWallet's Best Minnesota Housing Finance Agency Lenders of 2021
- New American Funding: Best for buyers with nontraditional credit
- Guaranteed Rate: Best for online lending
- Fairway Independent Mortgage: Best for face-to-face service
- loanDepot: Best for FHA loans
- PrimeLending: Best for FHA loans
- Caliber: Best for VA loans
- Wells Fargo: Best for face-to-face service
- Stearns Lending: Best for government-backed loans