Homeownership Interest Rates
Mortgage Loan Program Interest Information for Lenders
Review the Lock, Fee, and Service Release Premium (SRP) Guide for more information.
For use by Minnesota Housing Participating Lenders. Not intended for consumers.
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FANNIE MAE Standard Program Income Limits Apply
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HFA Preferred™ | HFA Preferred™ Upfront Paid MI Insured |
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| 1.5% SRP* | 2.5% SRP** | 3.5% SRP* | |
| Start Up: First Mortgage with or without Downpayment Loan |
7.500 | 7.750 | 8.000 |
| Step Up: Purchase or Refinance First Mortgage 30-Year Term with or without Downpayment Loan |
7.625 | 7.875 | 8.125 |
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FREDDIE MAC |
HFA Advantage® | HFA Advantage® Upfront Paid MI Insured |
|
| 1.5% SRP* | 2.5% SRP* | 3.5% SRP* | |
| Start Up: First Mortgage with or without Downpayment Loan |
7.500 | 7.750 | 8.000 |
| Step Up: Purchase or Refinance First Mortgage 30-Year Term with or without Downpayment Loan |
7.625 | 7.875 | 8.125 |
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FHA/VA/RD** |
**RD loan product only available with 30-year term | |
| 1.5% SRP* | 2.5% SRP* | |
| Start Up: First Mortgage with or without Downpayment Loan |
7.125 | 7.375 |
| Step Up: Purchase or Refinance First Mortgage 15-year Term with or without Monthly Payment Loan |
6.625 | NA |
| Step Up: Purchase or Refinance First Mortgage 30-year Term with or without Monthly Payment Loan |
7.250 | 7.500 |
*Customary and reasonable discretionary fees are allowable. With the 2.5% SRP rate option, the Lender cannot charge the borrower any origination fee or discount point. With the 1.5% SRP rate option, the Lender may charge the borrower either a 1% origination fee or 1% discount point. With the 3.5% SRP rate option the Lender may charge the borrower either a 1% origination fee or 1% discount point. The remaining 2% must be used to offset the cost of the single-pay upfront MI premium (see the UPMI section of the Lock, Fee, and Service Release Premium (SRP) Guide for more details).
Rates include loan-level price adjustments (LLPA).
In connection with Single Family Division loan programs, Minnesota Housing does not make or arrange loans. It is neither an originator nor creditor and is not affiliated with any Lender. The terms of any mortgage finance transactions conducted in connection with these programs, including important information such as loan fees, the annual percentage rate (APR), repayment conditions, disclosures, and any other materials which are required to be provided to the consumer are the responsibility of the Lender.
