Minnesota Zero Down Payment Loans

****The Affordable Advantage Program has been discontinued but there are many other opportunities for down payment assistance.  Please contact us below - we are here to help!

Introducing the new MN Zero Down Program!  It’s been awhile since we’ve had the opportunity to avoid any down payment.  After the “mortgage meltdown,” investors and lenders said no to not having any “skin” in the game.  Honestly, the main problems with the meltdown weren’t the qualified zero down buyers, but those buyers who shouldn’t have bought a home due to their credit.

MN Housing realizes this and wants to award the buyers who have the good credit and payment history, but just can’t mcome up with the required FHA 3.5% down payment.  Who can these days with bills, rent and any other expenses that come up unexpectedly?  Now you don’t have to save up money for the down payment!  Meet the Affordable Advantage Program.

Affordable Advantage Program

This new loan is a conventional loan which may open up more options for houses that you can look at since some sellers won’t allow FHA financing.  Currently, FHA is the most used loan program requiring 3.5% down.  It’s a good program, but it’s tough to save money.

Here is a little comparison showing the difference in loan amounts and down payments with this program vs. FHA.  Note that the payment is just a little less!!


How great to be able to put less down AND save a little on your house payment.
Here are the important facts about the program.

  • You need at least $1000 of your own money into the deal, no gifts
  • No down payment required
  • Minimum of a 680 credit score
  • No mortgage insurance
  • Single family one unit home, town home or condo
  • Maximum seller paids 3% of the sale price
  • Maximum household income for up to 4 people, $83900
  • Must be a first time buyer and must attend the Homestretch class

The MN Affordable Advantage program is available now and hopefully it will give you a huge incentive to take advantage of the great home prices!  Contact us below to find out more!

Find Out What Mortgages You Might Qualify For

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Twin City Market Trends

Total Properties Listed: 21,401
Month-Over-Month Change: 4.69%
Average Days On Market: 114
Total New Properties Today: 88
Median List Price: $214,500
Month-Over-Month Change: 2.19%