This $3,000 second-mortgage loan is available to qualified buyers for purchase of an owner-occupied home in Minnesota. There are no monthly payments and no interest on the loan, but it must be repaid when the home is sold or at the end of the first mortgage.

Who Is Eligible

  • Loan is available to buyers with incomes at or below the Federal Guidelines for Low Income in Minnesota, by County or Metropolitan Statistical Area and Family Size.
  • Buyers must qualify for and receive a first mortgage from MMCDC or another source.
  • Homes must be located in Minnesota.

Document Checklist

  • Purchase Agreement for a Home
  • Pre-Approval Letter for a Mortgage
  • Income Verification Documents, such as those used when applying for first-mortgage loan
  • Homebuyer Education Certificate

*Limited Time Offer. Loans Available Until Funds Are Depleted.

The Experts

Kathy Misson
Vice President, Mortgage Lending
218-844-7015
Karen Larson
Mortgage Underwriter
218-844-7013