Increased Deferred Payment
Loan Amounts and Income Limits

Questions?
Partner Solutions Team:
mnhousing.solution@state.mn.us or 651.296.8215/800.710.8871 Monday-Friday
7:30 a.m. - 5:00 p.m
Increased Deferred Payment Loan (DPL) Amount and Income Limits
Effective for current and new commitments as of April 1, 2014, the maximum loan amount and income limits available under the interest-free DPL are increased to the following:
DPL Loan Amount
  • For purchase prices less than or equal to $100,000, the maximum DPL amount is $5,000.
  • For purchase prices greater than $100,000, the maximum DPL amount is 5% of the purchase price, up to $7,500. 
DPL Income Limits
  • 11-County Metro Area and Rochester: $60,000
  • Greater Minnesota: $55,000
  • Visit the Income Limits page for households of 5 or more.
Deferred Payment Loan Forms Change
All DPLs closed with the new income limits must use the new DPL Note and DPL Mortgage now available via Forms Generator in the online commitment system or as fillable forms.   
DPL loans that are in process and will close under the previous income limits may use either version of the DPL Note and Mortgage. After March 28, only the new DPL Note and Mortgage will be available in Forms Generator. Lenders who use fillable forms should now update their process with the new forms, which can be used for DPLs that close under the previous income limits and must be used for loans closing under the new income limits. 
The Start Up Procedural Manual reflects these changes.
Upcoming In-Person Mortgage Loan Program Training
Join Minnesota Housing and its servicer, U.S. Bank MRBP, for in-person training sessions on Thursday, April 17 at the Dakota County Northern Service Center.
Choose from the following sessions: 
  • Minnesota Housing 101
  • Start Up and Step Up Procedural and Documents Training (to include U.S. Bank file delivery and process information)
  • Mortgage Credit Certificate Program
  • HOME HELP Loan Program
                               Register today!
Registration is available on a first-come, first-served basis and is limited based on training facility capacity. Sessions will be canceled if registration numbers are low. 
Free parking is available. Lunch is on your own. For participants of both the morning and afternoon sessions, we will break from 11:45 a.m.-1:00 p.m. for lunch.
NMLSR Data Field Reminder
Minnesota Housing’s online commitment system now offers data fields for your lending company’s NMLSR identification number in addition to loan officer NMLSR data fields.
For lenders who wish to have NMLSR data auto-populate through the use of Forms Generator, please do the following: 
1. Provide Lending Company NMLSR Data: 
Submit the NMLSR information to Joseph Baldeshwiler by March 31. We will update the company NMLSR number in our online commitment system. 
2. Provide Loan Officer NMLSR Data: 
After you submit your NMLSR data to us, your lending company’s Web Administrator will receive information on how to enter and update individual loan officer NMLSR data directly into the online commitment system.
Required NMLSR data fields must be completed on all Minnesota Housing downpayment assistance loan program mortgages and notes, including: Deferred Payment Loan, HOME HELP, and Monthly Payment Loan.
If you choose not to use the auto-populate function in Forms Generator, loan documents are also available on the Manuals and Resources web page. The use of the auto-populate feature available through Forms Generator is optional.
Reminder: All lenders are responsible for ensuring that NMLSR information, as required by Truth in Lending (TIL), is provided on mortgages and notes, regardless if documents are used from Forms Generator or completed from documents obtained on Minnesota Housing’s website. 
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