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Senate bill would extend and expand Minnesota's first-generation down payment assistance program
Summary
Senate File 1610 would convert the pilot First Gen Down Payment Assistance (DPA) program into a permanent program, provide new appropriations, change eligibility and loan caps, and preserve borrower protections. Testimony highlighted early program results and demand; committee laid the bill over for possible inclusion.
Senator Umauver Beighton introduced Senate File 1610 on March 4, asking the Committee on Housing and Homelessness Prevention to convert Minnesota's first-generation down payment assistance pilot into an ongoing program and to add new funding. The bill requests $25 million in fiscal 2026 and $50 million annually beginning in fiscal 2027.
The bill would (as described by the sponsor) establish the pilot as a permanent program, change the eligible-buyer definition from area median income to a statewide income cap, set the maximum assistance beginning in FY27 at 10% of the median statewide home sales price (per the Minnesota Realtors annual report) instead of the current $32,000 fixed cap, and maintain the current recapture rule if a…
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