MMMCDC is a chosen provider of Project Reinvest Down-Payment Loans*. This $10,500 second-mortgage loan is available to qualified buyers for purchase of a 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 receive a first mortgage through an Approved Lender.
  • 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 or during housing counseling session
  • Homebuyer Education Certificate plus a certificate for at least one hour of housing counseling from an Approved Education and Counseling Provider.

*Limited Time Offer. Loans Available Until Funds Are Depleted. Loans cannot be used for purchase of any home developed and/or sold by MMCDC and the Northwest Minnesota Housing Cooperative.

The Experts

Kathy Misson
Vice President, Mortgage Lending
Karen Larson
Mortgage Underwriter