In addition to comparing interest rates and programs, contacting different mortgage lenders will help locate a mortgage lender you're most comfortable with.
Special Mortgage Options Available to Residents of Minnesota
In addition to FHA loans, VA loans, and agricultural loans, Minnesota offers a variety of local programs designed to help homeowners secure an affordable form of financing. For example, the Minnesota Housing Finance Agency offers to help various home buyers with low fixed interest rate mortgages, down payment and closing costs assistance, as well as additional incentives for first time home buyers.
Additionally, there's not one but two property tax refunds for homeowners in Minnesota. There is the Minnesota Regular Property Tax Refund and the Minnesota Special Property Tax Refund. Although homeowners must meet certain eligibility requirements, those who qualify can sometimes receive as much as a few thousand in the form of a refund. And even if you're a renter you may not be left out, as there is a Minnesota Renter's tax refund.
Extra Tools and Information for Minnesota Mortgages
While you're here, make use of our loan calculators which include a refinance calculator, a mortgage rate comparison calculator, and an amortization calculator & amortization chart. Existing homeowners can take advantage of the mortgage calculators on this site to evaluate the costs and possible savings of a mortgage refinance in Minnesota.
This site has also provided a number of links with specific information for Minnesota mortgages ranging from property tax information, first time home buyer loans, and foreclosure avoidance. We present the specific Minnesota mortgage and homeowner information below.
General Homebuyer & Homeowner Information
- Minnesota Homebuyer Education Programs. US Department of Housing & Urban Development List of Approved Counseling Agencies.
- Minnesota Downpayment Assistance Programs. Information and eligibility requirements for receiving downpayment assistance in Minnesota.
- Minnesota Agricultural Financial Assistance Division. If you are a farmer, the Rural Finance Authority (RFA) offers low-interest loan programs to farmers by partnering with local lenders to provide affordable credit to those eligible.
- Minnesota Home Ownership Center. A non-profit provider of info & resources that help Minnesotans begin, and maintain, home ownership.
- First Time Minnesota Home Buyer Loans. Minnesota housing and first time homebuyer loan information.
- Plymouth-- Number One Best Place To Live in America. Money.com's article on what makes Plymouth the greatest place to live in the United States.
- Minnesota Don't Borrow Trouble Campaign. Informational program to promote stability and success among families and individuals targeted by predatory lenders through a public education initiative in the Twin Cities metro area
- Minnesota Down Payment and Closing Cost Assistance. Provides the opportunity for eligible homebuyers who qualify for a Minnesota Housing loan to receive an interest-free, deferred loan to help with downpayment and closing costs
- US Department of Housing & Urban Development (HUD). The Federal Government's organization to increase homeownership, support community development and increase access to affordable housing free from discrimination.
- HUD's Minnesota Site. HUD's Minnesota site.
Minnesota Property Tax & MN Property Tax Refund Information
- Minnesota Property Tax Fact Sheet. FAQs on the Minnesota Property Tax
- Minnesota General Property Tax Information. General information on all the Property Tax Refunds, for homeowners and renters.
- Minnesota Regular Property Tax Refund and the Minnesota Special Property Tax Refund General information about the two Minnesota Property Tax Refunds for Homeowners.
- Minnesota Property Tax Refund for Renters. Information on tax refunds for non-homeowners in Minnesota
- Minnesota Property Tax Refund Eligibility Requirements. Information on who is eligible to receive the refund
- Minnesota Tax Special Program Forms
