State Buyer Guide
Down payment assistance, Minnesota housing programs, closing cost estimates, and what to know before buying — including from FSBO sellers.
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The Minnesota Housing Finance Agency is your primary source for below-market mortgage rates and down payment assistance in Minnesota. Programs are available through approved lenders — not directly through the HFA.
Competitive 30-year fixed-rate loans for first-time buyers.
DPA second mortgage with manageable monthly payments.
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Compare Mortgage Rates →On a $335,000 home: approximately $7,705
Minnesota charges a deed tax of $3.30 per $1,000 of consideration (0.33%), plus a $1.65 certificate of real estate value fee on sales above $3,000.
Minnesota is a title-company state. An attorney is not required, but for FSBO transactions having one review the purchase agreement is highly advisable.
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Find an Inspector →While Minnesota doesn't require an attorney at closing, FSBO buyers should strongly consider having one review the purchase agreement and title work.
Nolo has been the go-to legal resource for DIY buyers since 1971. Their real estate guides explain purchase agreements, contingencies, and closing in language anyone can understand.
Browse Legal Guides →Get a real estate attorney to review your purchase agreement or help you draft an offer letter — often for a fraction of traditional legal fees.
Get Legal Help →Download state-specific purchase agreements, addenda, and disclosure forms — written by attorneys, ready to use in your state.
Browse Real Estate Forms →Minnesota first-time buyers can access programs through the Minnesota Housing Finance Agency (https://www.mnhousing.gov/), including the Minnesota Housing Start Up Loan (Competitive below-market rates with access to DPA programs) and the Minnesota Housing Monthly Payment Loan (Up to $17,000 at a competitive low rate). Federal programs like FHA loans (3.5% down) and USDA loans (0% down in eligible areas) are also available.
Closing costs in Minnesota typically run 2.3% of the purchase price. Transfer tax: 0.33% ($3.30 per $1,000). Minnesota charges a deed tax of $3.30 per $1,000 of consideration (0.33%), plus a $1.65 certificate of real estate value fee on sales above $3,000.
Minnesota is a title-company state. An attorney is not required, but for FSBO transactions having one review the purchase agreement is highly advisable.
The median home price in Minnesota is approximately $335,000. Property taxes average 1.12% of assessed value annually.
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