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· MHFA MMP's home page <br /> <br />Home J <br /> <br />Page 1 of 2 <br /> <br />About MHFA J Contact Us FA( <br /> <br />H~me l,tort§age,t <br /> <br />YOU CAN Own A Home <br /> <br />The Minnesota Mortgage program (MMP) is a first time homebuyer" loan program that <br />helps Iow to moderate income Minnesotans to buy a home. The interest rates are below <br />market rates and available to Minnesotans based on their, income. Income and Home <br />Price Limit Tables are linked below. Find out today how YOU CAN be on the road to <br />homeownership with the Minnesota Mortgage Program. <br /> <br />MMP Brochure ~ - View or Print Out Your Own MMP Brochure <br />MMP Brochure - Spanish Version ~ <br /> <br />Program Guidelines <br /> <br />To be eligible for a Minnesota Mortgage Program loan you must: <br /> <br />Be a first-time homebuyer*. <br />Have a signed purchase agreement when you apply for the Minnesota Mortgage <br />Program. (Ws OK to start the pre-approval process with a MHFA lender) <br />Have federal income tax return copies for the last 3 years. <br />Have decent (not perfect) credit. <br />Have an income at or below prescribed MHFA limits and wan~t to buy a <br />qualifying home. Limits are.linked below. <br /> <br />*For MHFA loan purposes, first time homebuyer iS defined as anyone who has not <br />owned a home or. an interest in a home in the past three years. <br /> <br />See if You Qualify <br />MMP Income Limits - See if You Qualify for MMP Funds <br /> <br />MMP Home Cost Limits - The Home -You Buy Must Meet these Limits <br /> <br />Look for a Lender <br />The Minnesota Housing Finance Agency allows lenders flexibility in determining the <br />method that they wish to use to distribute mortgage funds, as long as the'method <br />chosen is fair and equitable to all potential applicants. <br /> <br />MMP Twin Cities Metro Area Lenders ~ <br />MMP Greater Minnesota Area Lenders ~ <br /> <br />http://www.mhfa.state.mn.us/homes/MMP.htm <br /> <br />2/3/2003 <br /> <br /> <br />