Buying a first home in Stearns or Benton County can feel out of reach with today’s prices and down payments. Minnesota Housing, the state’s housing finance agency, runs loan programs through local lenders that are built for first-time buyers. Here’s how they work.
Who counts as a first-time buyer
Minnesota Housing’s Start Up program defines a first-time homebuyer as someone who has not had an ownership interest in a principal residence in the last three years. That means people who owned a home years ago may qualify again.
Start Up limits for Stearns and Benton counties
Stearns and Benton fall under Minnesota Housing’s “all other counties” limits. (Sherburne County, which includes part of St. Cloud, is counted in the 11-county Twin Cities metro area and has different limits.)
- Household income: up to $118,900 for 1–2 people, or $136,700 for 3 or more.
- Purchase price: up to $472,030.
- Down payment and closing cost loans: up to $18,000 for eligible borrowers. Minnesota Housing notes these are loans, not grants.
- Homebuyer education: at least one borrower must finish an approved course before closing.
There is also a minimum credit score and the home must be owner-occupied. Buyers who are over the Start Up limits, or who aren’t first-time buyers, may be able to use the Step Up program, which has higher income limits and up to $14,000 in down payment and closing cost loans.
How to apply
Minnesota Housing does not lend directly. Buyers apply through a participating lender, the same way as any other mortgage, and the lender confirms which program and loan options fit.
Thinking about buying or selling?
Program rules decide what a buyer can borrow, but they can’t say what a particular home is worth. An automated online estimate can’t either. A local agent who knows the neighborhood can give a real valuation.
Sources: Minnesota Housing Buy a Home & Refinance and Homeownership Income Limits. Checked Oct. 11, 2026. Limits can change, so confirm current figures with a participating lender.
This information is general and not financial or legal advice. Talk with a participating lender or licensed real estate professional about your situation.
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Sponsored by Dan DeMark, Realtor | LPT Realty (goldenrulerealestateservices.com). Thinking about buying or selling in Stearns or Benton County? Contact Dan for a real valuation of your home or help finding your first one.
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