Step Up Income Limits Increase

The Step Up loan program is now available to even more Minnesotans! We increased the Step Up income limits and eliminated household size requirements for loans closed on or after December 1, 2014.
  • 11-County Metro Area: $124,000
  • Rochester MSA: $124,000
  • All Other Counties: $110,600
Step Up uses industry standard qualifying income, not the eligibility income calculation used for Start Up and the Mortgage Credit Certificate.
Starting December 1, you can commit new loans in the system under the new income limits. Our website will be updated to reflect the new income limits on December 1.
Step Up borrowers using the Monthly Payment Loan must still meet the Monthly Payment Loan income limits, which are lower
For current commitments, if the borrower’s income increases over the old income limits on or after December 1, simply update the commitment system to reflect the updated income calculation.
Please note: There are no changes to Start Up, Mortgage Credit Certificate, Monthly Payment Loan or Deferred Payment Loan income limits
Commitment System Closed for New Commitments During Holidays
Our online commitment system will be closed for new commitments during the following holiday periods:
  • Thanksgiving and the day after: 5:00 p.m. on Wednesday, November 26 through 10:00 a.m. on Monday, December 1
  • Christmas: 5:00 p.m. on Wednesday, December 24 through 10:00 a.m. on Friday, December 26
  • New Year's Day: 5:00 p.m. on Wednesday, December 31 through 10:00 a.m. Friday, January 2
Lenders can access their pipelines and make changes to existing commitments during these times; the system is only locked for new commitments. 
Upcoming Trainings
Trainings are not just for loan officers! Our Webinars are just as important for underwriters, processors, closers and post-closers. Register for our December trainings today:
Contact the Partner Solutions Team at 651.296.8215 or 800.710.8871, Monday-Friday from 7:30 a.m.-5:00 p.m.
400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US
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