Finance
Minnesota's MHFA (Minnesota Housing Finance Agency) Start Up loan program is designed for:
ACommercial developers starting new projects
BFirst-time homebuyers purchasing within MHFA income and purchase price limits✓ Correct
CInvestors buying rental properties
DBuilders constructing new affordable housing
Explanation
MHFA's Start Up loan program provides below-market interest rate mortgages to first-time homebuyers (defined as those who have not owned a home in the past three years) who meet income and purchase price limits. Down payment assistance may also be available to qualified borrowers.
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