Homeownership Assistance Fund (HAF)

Did you know that homebuyers can obtain low down payment loans on conventional and government loans with down payment assistance programs (DAPs)? Many community, city, county and state agencies offer DAPs, which have unique qualification requirements regarding income, assets, credit, ...occupancy and location. Check back regularly for new examples of available programs: Homeownership Assistance Fund (HAF): This Minnesota housing program awards eligible first-time homebuyers an interest-free, deferred loan – up to $5,000 – to help with down payment and closing costs. Homebuyers interested in the HAF should contact a Minnesota Housing participating lender prior to signing a purchase agreement. Participating lenders determine eligibility, which generally includes households earning from 60 - 80 percent or less of area median income, depending on other qualifications.