No money down
For starters, a USDA loan is one of the only loan programs offered to the general public that allows you to finance 100% of your home’s value. That means no down payment of any kind!
Minnesota USDA Loans
My state-specific information
Eligibility Requirements – Minnesota
Residents of the Land of 10,000 Lakes have a wonderful opportunity thanks to home loans from the USDA. For a family of 1-4 in Minnesota, the average household income limit for a USDA loan is about $121,900, and it can be as high as $197,750 for a family of 5 or more. With no down payment or qualifying assets required, a USDA loan might be just what you’re looking for. Fill out the form below to get in touch with one of our USDA loan specialists and take the first step towards your new home.
The map below shows the areas of Minnesota that qualify for USDA loans. For more info on what areas qualify, check out the USDA property eligibility screen.
Minnesota USDA Income Limits (Moderate Income – Guaranteed Loan)
Minnesota’s standard USDA income limit is higher than many states, and select metro/high-cost areas have increased limits.
| Area | 1–4 Person | 5+ Person |
|---|---|---|
| Standard Minnesota Limit (Most Counties & MSAs) | $121,900 | $160,950 |
| Duluth, MN-WI MSA | $121,900 | $160,950 |
| Mankato, MN MSA | $121,900 | $160,950 |
| St. Cloud, MN MSA | $121,900 | $160,950 |
| Grand Forks, ND-MN MSA | $124,500 | $164,350 |
| McLeod County, MN | $125,200 | $165,300 |
| Rice County, MN | $123,850 | $163,500 |
| La Crosse-Onalaska, WI-MN HUD Metro FMR Area | $123,500 | $163,050 |
| Goodhue County, MN | $130,150 | $171,800 |
| Steele County, MN | $132,050 | $174,350 |
| Fargo, ND-MN MSA | $132,950 | $175,500 |
| Le Sueur County, MN HUD Metro FMR Area | $134,350 | $177,350 |
| Rochester, MN HUD Metro FMR Area | $144,450 | $190,700 |
| Minneapolis–St. Paul–Bloomington, MN-WI HUD Metro FMR Area | $149,800 | $197,750 |
| Pennington County, MN | $122,100 | $161,200 |
| Mille Lacs County, MN HUD Metro FMR Area | $121,900 | $160,950 |
| Fillmore County, MN HUD Metro FMR Area | $121,900 | $160,950 |
| Wabasha County, MN HUD Metro FMR Area | $121,900 | $160,950 |
| Rock County, MN HUD Metro FMR Area | $121,900 | $160,950 |
USDA income limits in Minnesota are based on total household income and household size. This includes income from all adult household members (not just the borrower).
If your household income falls within the limit for your county/metro area, you may be eligible for a USDA Guaranteed loan with 100% financing (no down payment required).
Check Your Minnesota USDA Eligibility
USDA loans are available in eligible rural and suburban areas throughout Minnesota. We can quickly:
- Verify your household income eligibility
- Confirm the property is in a USDA-eligible location
- Provide a fast payment estimate and next steps
Income limits shown are for USDA Guaranteed loans and may change annually. Final eligibility depends on verified household income, household size, and USDA program guidelines.
- NO down payment – Finance 100% of your home
- NO maximum loan amount in Minnesota.
- NO assets needed to qualify
- Flexible credit guidelines
- Competitive, fixed interest rates so payments do not increase
- USDA Loans are for new and existing properties
Start your Minnesota USDA home loan now! Just fill out this quick form to get started & a USDA loan specialist will contact you with your options.
What areas are eligible?
USDA Eligibility Map – Minnesota
USDA Home Loan Features
Great interest rates
USDA loans are made even more affordable through very competitive fixed interest rates, ensuring your payments will not increase every month.
Need a 620 credit score
USDA Loans .Net requires a middle credit score of at least 620. If you are close, apply and we can help.
Affordable 30 year terms
USDA home loans also offers affordable 30 year terms. If you are a first time home buyer, or not, a USDA loan is the perfect fit.
Roll in your closing costs
A USDA loan allows you to finance in your closing costs up to the appraised value. Making the USDA loan the only mortgage on the market with this ability.
Apply today
Start your USDA Loan now! It only takes 30 seconds to see if you qualify.
New Applicants: For questions about a mortgage application currently in process, please reach out to your Mortgage Loan Officer. If you are not sure who your Mortgage Loan Officer is, please email our Mortgage Help Desk at mortgagehelpdesk@magnoliabank.com. Customer Feedback: For complaints or to provide feedback, please email complaints@magnoliabank.com.
This communication does not constitute a commitment to lend or the guarantee of a special interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval.
