GRANT · HOW TO WIN THIS
Varies; max mortgage at 96.5% of home value, fixed 5.375% rate, 30-year term.
Rolling — no fixed deadline, apply when ready.
FUNDING TYPE
CDFI, Loan
CAN YOU GET THIS?
YOUR REAL ODDS
Rolling applications mean no fixed competition window, but underwriting requirements are specific and must all be met.
You need at least $6,300 in savings, a preferred credit score of 620 (580 accepted with documentation), total monthly debt under 13% of gross income, and stable employment history. Meeting every threshold matters more than standing out in a competitive pool.
WHAT IT TAKES
Complete Twin Cities Habitat's Homeownership Program — Varies by program schedule
Gather financial documentation: savings, credit, employment, debt history — 1-2 weeks
Submit mortgage application and go through underwriting — Several weeks
WORTH KNOWING
Credit scores between 580-620 or no credit history are acceptable if you provide alternative credit documentation, which opens the door for applicants who would be rejected by conventional lenders. Down payment and affordability assistance may also be available depending on income and availability.
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