Reminder: 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:
- Maximum loan amount: Up to the greater of $5,000 or 5% of the purchase price ($7,500 loan maximum).
- Maximum income limits:
- Eleven-county Twin Cities Metropolitan Area and Rochester MSA: $60,000
- Greater Minnesota: $55,000