First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you qualify for a first time home buyer loan. These programs have income limits and strict underwriting guidelines. While they are a perfect fit for some, first time home buyer loans are not the choice for others.

The rate is usually lower than market rates and offer down payment assistance up to $4500.  The minimum credit score is currently 620.

The chart below shows the income limits for the Minnesota Housing Finance Program. 

Household Size


Minnesota Housing Area Median Income Limits

11-County Twin Cities Metro Area*

Level 1

Level 2

Level 3

1 Person




2 Person


3 Person


4 Person


5 Person




6 Person




7 Person




8 Person




9 Person




10 Person**




Call today to see if a First Time Homebuyer Program fits your needs!

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