[The latest news for Minnesota Housing homeownership lender partners]
Increased Income Limits Effective Today
Income limitsfor the Home Mortgage programs have increased for loans locked on or after July 1, 2019:
*The 11-county Twin Cities Metro Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright Counties.
Increased Home Cost Limits Effective Today
The acquisition cost limit for Start Up and the purchase price or refinance loan amount limit for Step Up have increased for loans locked on or after July 1, 2019:
11-county metro area: $330,100
All other counties: $283,300
Start Up Subsidy Recapture Disclosure Statement and Tennessen Warning
We updated the Subsidy Recapture Disclosure Statement and Tennessen Warning to reflect the updated income limits. The new version (dated 6/20/2019) will be required for all Start Up loans that are locked on or after July 1, 2019. Continue to use the version dated 5/29/2019 for Start Up loans locked before July 1, 2019.