First-time buyers · Minneapolis
Bungalows in South Minneapolis, duplexes in Northeast, condos downtown and in Uptown, the first-time-friendly blocks of North and the lakes neighborhoods — Taylor works with buyers across the city. Here is how buying works in Minneapolis, what help exists, and what to do first.
Where buyers are looking in Minneapolis
Licensed statewide in Minnesota — these are just the areas that come up most. Any address in Minneapolis works.
Down payment help in Minneapolis
Minnesota Housing's Start Up program is built for first-time buyers (anyone who has not owned a home in the last three years). It pairs a Minnesota Housing first mortgage — conventional, FHA, VA or USDA — with down payment and closing cost loans: a Deferred Payment Loan with no monthly payment, repaid when you sell or refinance, or a Monthly Payment Loan with a small payment alongside the mortgage. Income and purchase-price limits apply by county, and a homebuyer education course is part of the deal.
Taylor · Loan OfficerBuying in Minneapolis, specifically
Minneapolis requires sellers to have a Truth-in-Sale of Housing (TISH) evaluation before listing, and the report is available to buyers up front. It is not a substitute for your own inspection, but it is a free early look at the roof, furnace, plumbing and required repairs — and Taylor and your agent read it before you write.
Minneapolis has one of the deepest duplex and triplex markets in the region. FHA and some conventional programs let you buy a 2–4 unit building as a primary residence with a low down payment and count part of the rental income toward qualifying. Taylor runs both scenarios — single-family and multi-unit — so you can compare the real payment.
Downtown, North Loop and Uptown condos are a great first-home price point, but the building has to qualify too — budgets, reserves, owner-occupancy and litigation all matter. Taylor checks the association early so a great unit never dies at the finish line.
Loan programs for Minneapolis first-time buyers
The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.
Learn more →The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.
Learn more →For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.
Learn more →$0 down for homes in eligible smaller communities across Minnesota — far more towns qualify than buyers expect.
Learn more →Minnesota all have real down payment help — Minnesota Housing programs can put thousands toward your down payment and closing costs.
Learn more →Six myths busted and the six-step path from first text to keys — the page to read before anything else.
Start here →How it works from Eden Prairie
Text, phone, video, secure document upload, and a closing at a title company near you. Your real estate agent and Taylor talk directly at every milestone — offer-day numbers in minutes and a call to every listing agent included.
Timing varies by file and depends on receiving complete documentation. Turnaround figures are typical, not guaranteed. This is not an offer to enter into an agreement; not all customers will qualify. Rates, programs and terms are subject to change. All loans subject to credit and property approval.
Minneapolis first-time buyer questions
Minneapolis buyers can use conventional loans with 3% down, FHA with 3.5% down, VA with $0 down for eligible buyers, and Minnesota Housing's Start Up program for down payment and closing cost assistance. Some city and nonprofit programs may also apply; Taylor checks what fits your file.
A city-required evaluation of a home's condition that the seller must complete before listing in Minneapolis. It flags required repairs and gives buyers an early look at major systems. It does not replace a buyer's own inspection.
Yes. FHA allows as little as 3.5% down on a 2–4 unit property you will live in, and a portion of the rental income from the other units can be used to help you qualify. Conventional options exist as well. Taylor can compare the payments for you.
Yes. Taylor Kranz is licensed in Minnesota (NMLS #2093249), which covers Minneapolis and every other city in the state, and works from Fairway Home Mortgage's Eden Prairie branch.
Minneapolis buyers
After that it's just a conversation. Text Taylor what you're wondering about buying in Minneapolis — tonight is fine.
Applications happen on Fairway's secure site — never here.
