Helping You Build Generational Wealth
First Generation Homebuyers
Helping You Build Generational Wealth
First Generation Homebuyers
Buying your first home can be a bit tricky, especially if you're the first in your family to do it. It's important to work with professionals who can help you understand how these programs work, give you tips on improving your credit, and help you find homes that fit the rules.
If you're thinking of buying your first home in Minnesota and you're the first in your family to do it, figuring out how to handle the down payment is a big deal. There are programs made to help people get a home. To find out about these First-Generation or First Time Home Buyer programs, just fill out the form below. We'll give you all the info on Minnesota Down Payment Assistance and other things that make owning a home easier.
Minnesota is a leader in Down Payment Assistance Programs, making it easier for First Time homebuyers like you. There are programs all over the state, including in specific counties and cities. These programs, available through approved mortgage lenders, aim to help folks own a home.
Not sure where to start? We're here to help! Get in touch with us for guidance on buying a home, including info on down payment assistance and programs for first-time homebuyers.
First-Generation Homebuyer Grant
Coming to Minnesota on May 6, 2024 the Minnesota First Generation Homebuyers Community Down Payment Assistance Fund was created in 2023. Eligible recipients can receive up to 10% of a home’s purchase price, capped at $32,000. The down payment assistance provided under this program is a zero-interest loan that is forgiven over five years (20% forgiven each year), as long as the homebuyer lives in the home as their primary residence. If you and your parent(s) or legal guardian(s) never owned a home in any country, or owned a home but lost it due to foreclosure you would qualify as a First-Generation Homebuyer in this program. You must purchase your home in Minnesota.
First-Time Homebuyer Assistance
Minnesota Housing First-Time Homebuyer Loan Program is specifically designed to assist first-time homebuyers. Downpayment and Closing Cost Loan options – up to $18,000 available! If you’ve never owned a home, or it's been more than three years since you've been a homeowner, you may be considered a first-time homebuyer.
Additional Down Payment Assistance
Minnesota has some of the best down payment assistance programs in the country. Programs like MHFA, County specific resources, Minneapolis and St. Paul home buyer assistance, and first time buyer grants can help you get into your first home with less money down.
Minnesota Housing offers a variety of loan programs for first-time and repeat homebuyers to help make owning a home more affordable.
First-Generation Homebuyer Grant
If you’re a first time homebuyer in Minnesota, the down payment can be a significant obstacle on your path to homeownership. However, there’s good news! Numerous homebuyer programs are tailored to assist individuals like you in achieving their dream of owning a home. By taking advantage of these programs, you can make buying a home more achievable than you might realize. With years of experience assisting homebuyers just like you, I can help you navigate through all of your options.
First-Time Homebuyer Assistance
If you’re a first time homebuyer in Minnesota, the down payment can be a significant obstacle on your path to homeownership. However, there’s good news! Numerous homebuyer programs are tailored to assist individuals like you in achieving their dream of owning a home. By taking advantage of these programs, you can make buying a home more achievable than you might realize. With years of experience assisting homebuyers just like you, I can help you navigate through all of your options.
Additional Down Payment Assistance
Down Payment Assistance isn't just for first time home buyers! There are programs available for current homeowners or those that have owned a home within the last 3 years. The Minnesota Housing Finance Agency offers a Step-Up Program that is a statewide Minnesota Housing program available to all Minnesotans!
Meet the Team
The First Generation Homebuyers MN Team offers over 45 years of combined Real Estate experience. We are dedicated to helping build generational wealth for the people and families we assist. Our guidance has helped our clients through all aspects of the home buying process. We are experienced in working within all home buying programs offered in the Twin Cities Eight-County Metro Area. We are excited to start working with the First-Generation Homebuyers Down Payment Assistance Fund being managed by the Midwest Minnesota Community Development Corporation (MMCDC) and Minnesota Housing Finance Agency (MHFA).
Michael Sullivan, Coldwell Banker Realty
With over 20 years of experience in Real Estate, I consider it more than just a job—it’s a way of life. A significant part of my work involves helping first-time home buyers, with over 60% of my clients benefiting from down payment assistance programs. I take pride in guiding people through various programs like MHFA, FHA, DVA, and USDA Rural Home Loan Programs.
As your Realtor, I bring a wealth of experience in navigating the intricacies of buying and selling different property types, including single-family homes, condominiums, townhouses, co-ops, and new construction. My commitment goes beyond fulfilling my duty—I’m dedicated to ensuring your real estate experience is as smooth as possible.
Michael Dietrich, Senior Mortgage Loan Officer, iLoan Home Mortgage (NMLS # 334183)
I am truly passionate about my profession and nearly 100% of my business is through referrals from satisfied clients, trusted financial advisers and key partnership with experienced realtors in the Twin Cities, Colorado, California, and Wisconsin.
My mission is to guide you through the home loan process to feel confident about making the right choices in accomplishing your financing strategy. With over 13 years in the mortgage industry, my dedicated team and I stand ready to assist you each step of the way. We are quick, professional and aggressive in pricing your loan to provide great value.
Specialties: Home Purchase Loans, First-time home buyer programs, VA Loans and Government programs, Investor Properties, plus Community and Neighborhoods Programs in the Twin Cities.
Ready to Build Generational Wealth?
Contact Us
E. Info@FirstGenerationHomebuyerMN.com | P. 612.246.9172
