Important: Eligible Use of Funds Reminder
Minnesota Housing understands that buyers want to be creative with their purchase offers in today's seller's market. However, as a reminder, borrowers may only use the Monthly Payment Loan, Deferred Payment Loan and Deferred Payment Loan Plus for the downpayment and/or borrower closing costs.
Loan funds may NOT be used to pay for:
- Value gap financing (appraised value comes in lower than the purchase price)
- Seller closing costs