MHFA Available to First Time Homebuyers or buyers that have not had an interest in a primary residence in the last 3 years Acceptable Credit Have an income that meets the MHFA qualification limits
Single Family Homes Division
Income Limits
Homeownership Programs Eligibility Income Limits The following income limits apply to all First-time Homebuyer Programs:
| Household Size |
11-County Twin Cities Metro Area* |
Olmsted County |
Balance of State |
| 1-4 Persons |
$63,000 |
$58,500 |
$55,000 |
| 5 Person |
$68,500 |
$63,500 |
$59,500 |
| 6 Person |
$73,500 |
$68,500 |
$64,000 |
| 7 Person |
$78,500 |
$73,000 |
$68,500 |
| 8 Person |
$83,500 |
$77,500 |
$73,000 |
| 9 Person |
$88,500 |
$82,000 |
$77,000 |
| 10 Person** |
$89,000 |
$83,000 |
$77,500 |
Homeownership Assistance Fund Income Limits First Time Homebuyers who are qualified for one of the Minnesota Housing First-time homebuyer programs (Minnesota Mortgage Program, Community Activity Set Aside or Urban Indian Housing Program) can use the charts below to determine if they also qualify for the Homeownership Assistance Fund (HAF).
CASA and Targeted MMP Borrowers at or below the following state or area median household incomes qualify for HAF:
| Household Size |
11-County Twin Cities Metro Area* |
Olmsted County |
Balance of State |
| 1-4 Persons |
$63,000 |
$58,500 |
$55,000 |
| 5 Person |
$68,500 |
$63,500 |
$59,500 |
| 6 Person |
$73,500 |
$68,500 |
$64,000 |
| 7 Person |
$78,500 |
$73,000 |
$68,500 |
| 8 Person |
$83,500 |
$77,500 |
$73,000 |
| 9 Person |
$88,500 |
$82,000 |
$77,000 |
| 10 Person** |
$89,000 |
$83,000 |
$77,500 |
Targeted borrowers are defined by meeting one or more the following criteria: single-headed household; household of color; households containing persons with a disability; purchase in a low-income census tract.
*HAF Entry Cost Assistance provides up to $3,000 to help borrowers with down payment or closing costs
* = Soft Second Lien
Why Use MHFA?
- Below market interest rates
- Stable program for buyers
Acceptable Loan types: FHA/VA
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