MN Zero Down Payment Loans

Minnesota Zero Down Payment Loans

Affordable Advantage Program

Product Features 

  • Up to 100% LTV for one-unit properties
  • Borrowers must be at or below Minnesota Mortgage Program Income (MMP) limits
  • No mortgage insurance required for loans with an LTV in excess of 80%
  • $1,000 minimum borrower contribution
  • Fixed rate with terms of 30 years - visit the Minnesota Housing website for current rates
  • Minimum DU credit score is 680
  • Maximum allowable total expense ratio is 45%
  • One-unit owner-occupied properties eligible, including Fannie Mae eligible condos
  • Fannie Mae’s Community Seconds® allowed with a maximum CLTV of 105%
  • Contact U.S. Bank-MRBP Division for a full Affordable Advantage product description