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Updated Acquisition Cost Limits

Plus: Register for Fargo-Moorhead Training

In the April 19, 2016 eNews:

Acquisition Cost Limit Changes | Fargo-Moorhead Training | Questions

Acquisition Cost Limit Changes Effective April 25

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 25, 2016:

11-County Twin Cities Metro: $307,900 (increased from $307,300)
Balance of State: $255,500 (decreased from $258,600)

Please visit our website to download and order updated marketing materials.

If you have questions or need help locking a loan under the new acquisition cost limits, please contact the Partner Solutions Team.

New Venue, More Spots Available for Fargo-Moorhead Training

Due to high demand, we've moved to a bigger location for our upcoming in-person homeownership lender training. There are now additional spots available, so register by Thursday, April 21 to join us! If you already registered, you're all set - just note the new location.

Friday, April 22
10:00 a.m.–12:00 p.m.
Hilton Garden Inn
4351 17th Ave S., Fargo, ND 58103

This two-hour training by Minnesota Housing staff will cover borrower eligibility for our Start Up, Step Up and downpayment assistance loans and the forms and documents needed to close these loans. Loan officers, underwriters, processors, closers and post-closers are all encouraged to attend. Registration is free and required for each attendee.

Questions? Contact Kirsten Partenheimer at 651.297.3656.

Questions?

You can reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 7:30 a.m. and 5:00 p.m. on business days.

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Minnesota Housing

400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US