Minnesota Housing Finance Agency (MHFA)

Learn more about how Minnesota Housing helps first time home buyers

The Minnesota Housing Finance Agency, or Minnesota Housing for short, is a state-run organization that focuses on reducing homelessness, increasing home ownership for minorities, and increasing and preserving affordable housing throughout Minnesota. 

Since its creation in 1971, Minnesota Housing has helped over 400,000 households by providing funding for a wide range of housing needs. Whether you’re looking to purchase your very first home, need help finding affordable rental housing, or even need help with a down payment, the Minnesota Housing Finance Agency is here to help.

Minnesota Housing for Homebuyers & Home Owners 

Buy or Refinance a Home 

If you’re looking to buy a home or refinance your existing home, the Minnesota Housing Finance Agency offers a variety of programs that ensure a fixed and affordable interest rate 

Down Payments 

Minnesota Housing can also help provide buyers with a down payment and closing cost loan of up to $15,000. But loans are only available to borrowers who also get a Minnesota Housing first mortgage. 

Home Improvements 

Fixing up your home can be made possible using Minnesota Housing as well. They’ll help you with securing an affordable fixed interest rate, and funds can be used for improving porches and decks, a remodel of the kitchen or bathroom, adding a bathroom, finishing a basement, replacing an old furnace or air conditioner, replace old windows and doors, replacing your siding or roof, and so much more.

Foreclosure Prevention 

The Minnesota Housing Finance Agency can also be a resource for foreclosure prevention advice and assistance. Counseling is free and confidential, and a statewide network of advisors can help layout all your options in order for you to make the best decision possible.