Reminder: Acquisition Cost Limit Changes Effective April 17
At the direction of the IRS, we are adjusting acquisition cost limits for homes purchased through our Start Up, Mortgage Credit Certificate (MCC) and Step Up programs. These new limits apply to loan commitments made on or after Monday, April 17, 2017:
- 11-County Twin Cities Metro: $306,000 (decreased from $307,900)
- Balance of State: $253,800 (decreased from $255,500)