Minnesota Deferred Payment Loan Plus (DPL+)
Minnesota Housing offers Deferred Payment Loan Plus (DPL+) to first-time buyers in Minnesota: up to $18,000, as a deferred loan.
- Amount
- Up to $18,000
- Kind of help
- Deferred loan
- First-time buyers only
- Yes
- Homebuyer course
- Required
How is Minnesota Deferred Payment Loan Plus (DPL+) paid back?
Deferred loan: 0% loan. You repay it when the loan term ends, or sooner if you sell, refinance, move out or pay off your home loan.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for Minnesota Deferred Payment Loan Plus (DPL+)?
- Household income $94,600 for 1-2 people in the Twin Cities Metro Area; varies by household size and county, up to $156,100 for 8+ people.
- Only for first-time buyers (usually no home owned in the past three years).
- A homebuyer education course before you buy.
- It comes with a Minnesota Housing Start Up first mortgage.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Minnesota Deferred Payment Loan Plus (DPL+)
- Minnesota Housing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Minnesota Housing's page for Deferred Payment Loan Plus (DPL+), or pick a lender from the agency's list of participating lenders.
Ask a lender about Minnesota Deferred Payment Loan Plus (DPL+)
Tell us where you're buying and a lender that works with Minnesota's programs can tell you whether Minnesota Deferred Payment Loan Plus (DPL+) fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Minnesota
- Minnesota Monthly Payment Loan: up to $14,000, repayable loan.
- Minnesota Deferred Payment Loan (DPL): up to $14,000, deferred loan.
All Minnesota first-time home buyer programs · Down payment assistance in every state