Purchase Price Limits
* Effective for loans locked on or after January 2, 2024.
Start Up Purchase Price Limits
- Acquisition cost must fall under the following limits:
|
|
One Unit
|
Two Unit
|
|---|---|---|
|
11-County Metro
|
$515,200
|
$659,550
|
|
All Other Counties
|
$472,030
|
$604,400
|
Step Up Purchase Price Limits
- Purchase price/refinance loan amount must fall under the following limits:
Monthly Payment Loan
(2nd mortgage available with Start Up or Step Up)
Acquisition Cost Limit - See Start Up and Step Up limits.
Deferred Payment Loan and
Deferred Payment Loan Plus
(2nd mortgage available only with Start Up)
Acquisition Cost Limit - See Start Up limits.
*The 11-county Metro is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.
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.
