Opening the door to dream homes
for families in all stages of life.

Chuck Brusven, Realtor
Direct: 612-760-6400
Email: cbrusven@msn.com
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First Time Homebuyer
Down Payment and Closing Cost Assistance

Minnesota Housing Finance Agency (MHFA)

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Minnesota Housing provides the opportunity for eligible homebuyers whoqualify for a Minnesota Housing loan to receive an interest-free, deferred loan to help with down payment and closing costs through the Homeownership Assistance Fund (HAF).

First time homebuyers interested in using HAF should contact a Minnesota Housing participating lender prior to signing a purchase agreement. Participating lenders can determine the level of HAF eligibility to maximize your purchasing power.

Borrowers are eligible for HAF if they meet one of the following criteria:

  • Borrowers eligible for the CASA program
  • Single headed household
  • Household of color or Hispanic ethnicity
  • Household containing persons with a disability
  • Borrower purchasing in a low-income census tract
  • Household earning 60% (or less) or area median income

Two types of HAF assistance may be available:

  • HAF Entry Cost Assistance provides up to $3,000 to help borrowers with down payment or closing costs
  • HAF Monthly Payment Assistance provides up to $75 per month to help pay a portion of the monthly mortgage payment in the early years of the mortgage (available only with the Community Activity Set-Aside Program).