Dakota County has been a long time supporter of first time homebuyers by offering its own first time homebuyer loans through participating mortgage lenders (i.e. Cornerstone Mortgage Company, Burnsville), grants and down payment assistance loans, excellent education, among other services for first time homebuyers. There is a new first time homebuyer loan program coming to Dakota County of which, we are excited to take part. Here are some highlights of the new program and what it offers to first time homebuyers purchasing inside Dakota County.

- 30-year fixed rate interest rates slightly below market interest rates
- FHA and VA Loans only – No Conventional Financing
- Household income limits up to $92,290
- Single-family homes up to a purchase price of $276,683
- Existing duplexes up to $389,205
- New Construction is available in some parts of Dakota County, but not all. New Construction is allowed Apple Valley, Burnsville, Eagan, Lakeville and Rosemount among others
- Down payment Assistance Loans will be available up to a maximum of $10,000 based on income and home purchase price
- Minimum down payment from the first time homebuyer is $750.00

If you are interested in learning more about this program or other mortgage loan options specific to Dakota County, contact us today at Carrieg@houseloan.com. We’re here to answer any questions you may have. And, don’t forget, there are down payment assistance and first time homebuyer mortgage loan options in every city and county throughout Minnesota! We are a MN Housing Lender and their program is a statewide program for first time homebuyers. Dakota County is one of many counties in Minnesota that has special financing for first time homebuyers. Don’t hesitate to contact us for information on your local area programs and incentives for first time homebuyers!

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