Short Answer
The best program is the one that fits your income, savings, and plans. For many Rochester first-timers, that is Minnesota Housing’s Start Up program, and Alex Mayer helps you pick the loan.
Alex Mayer is a Realtor, not a loan officer. Talk to a qualified loan officer, like Heather Fuelberth at Bell Bank Mortgage, to verify everything here.
The Main Options Side by Side
Minnesota Housing offers three down payment and closing cost loans. They work only with its Start Up or Step Up first mortgage.
| Monthly Payment Loan | Deferred Payment Loan | Deferred Payment Loan Plus | |
|---|---|---|---|
| Amount | Up to $14,000 | Up to $14,000 | Up to $18,000 |
| Interest | Equal to your first mortgage rate | 0% | 0% |
| Monthly payment | Yes, over 15 years | No | No |
| First mortgage | Start Up or Step Up | Start Up only | Start Up only |
| Income limit | Follows the first mortgage | Its own, lower limits | Its own, lower limits |
Which Loan Fits Which Buyer
The Monthly Payment Loan
This one fits buyers whose income is above the DPL limits. It has no separate income limit and works with Start Up or Step Up.
The Deferred Payment Loan
This one fits buyers who want no interest and no monthly payment. It has lower income limits and a $13,000 cap on liquid assets after closing.
The Deferred Payment Loan Plus
DPL+ goes up to $18,000 for buyers who meet extra criteria. Heather checks your eligibility on the lender worksheet.
Rochester Income Limits
These limits took effect July 1, 2026, and Olmsted County shares a column with Dodge County. Heather confirms the current numbers before you apply.
Deferred Payment Loan and DPL+ Limits
| Household size | Olmsted County limit |
|---|---|
| 1 to 2 people | $94,600 |
| 3 people | $106,500 |
| 4 people | $118,300 |
| 5 people | $127,800 |
| 6 people | $137,200 |
| 7 people | $146,700 |
| 8 or more people | $156,100 |
Start Up and Step Up First Mortgage Limits
| Program | Olmsted County limit |
|---|---|
| Start Up, 1 to 2 people | $135,800 |
| Start Up, 3 or more people | $156,100 |
| Step Up, any household size | $196,600 |
The First Mortgage Underneath
Loan Types That Work With Start Up
Start Up works with FHA, VA, USDA, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage loans. Heather matches the loan to your situation.
Credit Score Minimums
The minimum credit score is 650 for FHA and 640 for VA, USDA, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage. Heather confirms how the down payment loan changes anything.
The Price Limit
The Start Up price limit in Olmsted County is $472,030 for a one-unit home. Heather confirms the limit for your loan.
Other Savings to Ask About
Step Up for Repeat Buyers
If you are not a first-time buyer, Step Up has a limit of $196,600 in Olmsted County. It works with a Monthly Payment Loan.
The Mortgage Credit Certificate
Minnesota Housing also has a Mortgage Credit Certificate program. Its materials say it can save up to $2,000 per year on taxes. Ask Heather whether it fits you.
Verify Everything With a Qualified Loan Officer
Alex Is a Realtor, Not a Loan Officer
Alex Mayer is not certified to qualify anyone for a loan. He explains how these programs fit your home search and your offer.
Only a Loan Officer Can Verify Your Numbers
A qualified loan officer confirms your eligibility, your income limits, and the current terms. Programs and limits change, so always verify before you decide.
Start With Heather Fuelberth
Alex connects you with Heather Fuelberth at Bell Bank Mortgage, his primary lender for these programs. You are also welcome to compare other qualified loan officers.
How Alex Mayer and Heather Fuelberth Work Together
Alex Teaches the Process
Alex Mayer is a Realtor, not a loan officer. He explains what each program means for your search and your offer, but he is not certified to qualify anyone.
Heather Runs the Numbers
Heather Fuelberth at Bell Bank Mortgage is Alex’s primary lender for these programs. She confirms eligibility and current terms.
One Plan, Two Specialists
Alex stays in contact with Heather the whole way. You hear one clear plan.
When You Call Alex, Alex Answers
Alex works through his Direct Representation Model. When you call to ask which program fits, you reach the agent who will represent you.
I built my support around my representation, not between me and the client.
Alex does not hand you off. He often responds within minutes, and he brings in Heather when you are ready.
What Clients Say About Alex
Testimonial on Alex: one first-time homebuyer said this about the local lender and inspector Alex connected them with.
He helped connect us with a local mortgage lender, home inspector, and home insurance provider as well, which made the whole process much more manageable.
Pryce Michener, first-time homebuyer, SoTellUs review
Frequently Asked Questions
Should I Talk to a Loan Officer Before Relying on This Article?
Yes. Alex Mayer is a Realtor, not a loan officer. A qualified loan officer must verify your eligibility and the current terms.
What Is the Best Down Payment Assistance Program in Rochester MN?
The best one fits your income, savings, and plans. For many first-time buyers it is Minnesota Housing’s Start Up program with a down payment loan.
How Much Down Payment Help Can I Get?
Up to $14,000 with a Monthly Payment Loan or Deferred Payment Loan, and up to $18,000 with DPL+.
What Are the Income Limits in Rochester MN?
Start Up is $135,800 for 1 to 2 people and $156,100 for 3 or more. The Deferred Payment Loan limits start at $94,600.
What Is the Difference Between Deferred and Monthly Payment Loans?
A Deferred Payment Loan has 0% interest and no monthly payments. A Monthly Payment Loan carries interest and is repaid monthly over 15 years.
Do I Need to Be a First-Time Buyer?
For Start Up, yes. Step Up is for repeat buyers and first-time buyers who do not qualify for Start Up.
Who Is Alex Mayer’s Lender?
Heather Fuelberth at Bell Bank Mortgage is Alex’s primary lender for these programs.
About Alex Mayer
Alex Mayer is a full-time Rochester MN real estate agent, a 4X winner of Best Real Estate Agent in Rochester MN with 350+ five-star reviews. His core values are Education, Communication, and Responsiveness, which guide every part of his business.
He has a “Direct Representation Model,” meaning his clients work directly with him, not a large team with junior agent handoffs. His promise: you’ll know what to expect, how to operate, and what needs to be done to be successful in the Rochester MN real estate market.
He specializes in first-time homebuyers, Mayo Clinic and other relocating buyers, and Rochester MN sellers, including move-up, downsizing, and estate sales. Alex is also known for his Alaskan Malamute dogs, Atlas and Kaia, who are featured in much of his local branding.