Minnesota Housing - Monthly Payment Loan (MPL)

Minnesota Housing - Monthly Payment Loan (MPL) es un segundo préstamo reembolsable para compradores de vivienda en Statewide, Minnesota. Minnesota Housing's $18,000 fully-amortizing 10-year fixed second mortgage DPA at the same rate as the first mortgage. Pairs with Start Up OR Step Up (FTHB and repeat/refi). Statewide. 640 FICO. Step Up tier income limits up to $159,900. The flexible / higher-income / repeat-buyer tier of MN Housing's DPA suite. Minnesota Housing's Monthly Payment Loan (MPL) provides up to $18,000 in down payment and closing cost assistance, structured as a fully-amortizing 10-year fixed second mortgage with monthly principal-and-interest payments. The MPL interest rate is set EQUAL to the borrower's MN Housing first-mortgage rate (representative recent rates have been in the 4% - 7% range depending on first-mortgage product and timing - the seed list cites a 4% scenario). MPL is more flexible than DPL/DPL+ in two key ways: (1) it pairs with EITHER Start Up (first-time homebuyer) OR Step Up (repeat homebuyer / refinance) first mortgages, and (2) it carries higher income limits than DPL/DPL+ (Step Up tier), enabling repeat buyers and higher-income FTHBs to access MN Housing DPA. Statewide eligibility - all 87 Minnesota counties. Income limited to roughly $116,900 (1-2 person Greater MN) up to $159,900 (3+ person 11-county Twin Cities metro), per MN Housing 2026 Step Up limits. Maximum purchase price $604,400 - $659,550 per Start Up/Step Up sales price limits. 640 minimum FICO. $1,000 minimum borrower contribution. Pre-purchase Qualified Homebuyer Education required for at least one borrower receiving the MPL. Los fondos provienen de State y Bond.

Minnesota Housing - Monthly Payment Loan (MPL) es un segundo préstamo reembolsable y se reembolsa según los términos que fija la agencia que administra el programa. El reembolso se activa por Fully-amortizing 10-year fixed second mortgage with monthly principal-and-interest payments. Loan amortizes to zero over 120 monthly payments. No deferral, no balloon. Becomes due in full upon sale, refinance of first mortgage, transfer of title, payoff, or non-owner-occupancy if not yet paid off through scheduled amortization. La ayuda se registra con un gravamen en posición 2nd Lien. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Minnesota Housing - Monthly Payment Loan (MPL) está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: 640 minimum FICO across all eligible first-mortgage products (FHA / VA / USDA-RD / Conv HFA Preferred). Some manual underwriting at 640 with compensating factors; AUS approval typically requires 660+. Se requiere un curso de educación para compradores de vivienda, a través de Minnesota Homeownership Center HUD-approved Home Stretch and Framework / eHome America counseling providers, plus tribal and culturally-specific HUD-approved counseling agencies. Pre-purchase Qualified Homebuyer Education required for at least one MPL borrower. Requisito de residencia: Property must be located in Minnesota (any of 87 counties) and serve as borrower's primary residence within 60 days of closing. Must remain primary residence for life of the loan. Ciudadanía o situación migratoria: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. Must be paired with Minnesota Housing's Start Up OR Step Up first mortgage (FTHB or repeat / refi). 640 minimum FICO across all eligible first-mortgage products. 50% maximum DTI per overlays. $1,000 minimum borrower contribution from own funds. Pre-purchase Qualified Homebuyer Education required for at least one borrower. Property must be primary residence. MPL is a fully-amortizing 10-year fixed second mortgage with monthly P&I payments at the same rate as the first mortgage - both first and second are amortized concurrently. Income includes ALL household members 18+ (gross) at Step Up tier limits. Maximum purchase price $604,400 - $659,550 by location.

Minnesota Housing - Monthly Payment Loan (MPL) limita el ingreso del hogar a $159,900. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Minnesota Housing - Monthly Payment Loan (MPL) limita el precio de compra a $659,550. Los tipos de propiedad elegibles incluyen Single-family detached, condominium (Fannie/Freddie/FHA project-approved), townhouse, PUD, manufactured home (real-property-titled, permanent foundation, meeting MN Housing manufactured-home overlay), 2-unit owner-occupied (1-unit owner-occupied required). Per Start Up / Step Up first-mortgage overlays. La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

Minnesota Housing - Monthly Payment Loan (MPL) menciona a veteranos, miembros del servicio militar activo, reservistas y miembros de la Guardia Nacional, cónyuges sobrevivientes y compradores de vivienda indígenas americanos y nativos de Alaska entre los grupos a los que atiende. Aparecer aquí significa que el programa menciona al grupo, no que pertenecer a él baste por sí solo para que un solicitante califique; las demás reglas de elegibilidad siguen aplicándose.

Minnesota Housing - Monthly Payment Loan (MPL) atiende a compradores de vivienda que compran en Statewide, Minnesota. El programa se dirige a áreas específicas: Minnesota Housing-designated federally targeted census tracts (per IRS Section 143(j)) where FTHB requirement is waived for Start Up pairings. Step Up has no FTHB requirement to begin with.

Las solicitudes de Minnesota Housing - Monthly Payment Loan (MPL) se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Reserved through Minnesota Housing's Lender Online Loan Commitment System at time of rate lock by MN Housing-approved lender. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.