Your first home is closer than you think. Let’s go get the keys.
I’m Steven Tran, a Fairway Home Mortgage loan officer in Eden Prairie who built my business around first-time buyers. From your first question to closing day, I’ll show you every program you qualify for — including Minnesota Housing down payment assistance of up to $18,000.
- NMLS #2377473
- Scotsman Guide Top 1% Mortgage Lender Nationwide
- Licensed in MN & WI
- Equal Housing Opportunity
A guide for the biggest purchase of your life
Buying your first home can feel intimidating — that’s exactly why I do this job. I focus on education first: what your payment really looks like, what assistance you qualify for, and what to expect at every step, explained in plain language.
Recognized as a Scotsman Guide Top 1% Mortgage Lender Nationwide, I work out of Fairway’s Eden Prairie branch and serve buyers across Minnesota and Wisconsin. My clients get my cell, fast answers, and honest guidance — even when the honest answer is “wait and let’s get you ready first.”
Quick facts
- Role: Loan Officer, Fairway Independent Mortgage Corporation
- NMLS: #2377473 (verify on NMLS Consumer Access)
- Office: 7500 Flying Cloud Drive, Suite 900, Eden Prairie, MN 55344
- Phone: 952-688-1081
- Email: [email protected]
- Specialty: First-time home buyers & Minnesota Housing programs
The path to your keys, in five steps
No mystery, no jargon — here’s exactly how it works from hello to homeowner.
-
Talk it through
A free, no-pressure conversation about your goals, budget, and timeline. Steven answers every question in plain English — no jargon, no judgment.
-
Get pre-approved
A quick application and document review, usually turned around within a day. You’ll know your real price range and monthly payment before you tour a single home.
-
Match your programs
This is where first-time buyers win. Steven layers Minnesota Housing assistance, first-time buyer loan options, and grants you may not know exist to lower your cash to close.
-
Shop with confidence
Make offers backed by a strong pre-approval and a lender who answers the phone — nights and weekends included. Fast responses keep your offer competitive.
-
Close and get the keys
Fairway is known for speed to close. Steven and the Eden Prairie team guide you through underwriting to the closing table — and stay your mortgage resource for life.
Low- and no-down-payment ways to buy your first home
Conventional (3% down)
Low down payment options for first-time buyers with flexible terms and no upfront mortgage insurance premium.
FHA loans
A first-time buyer favorite: 3.5% down with more forgiving credit requirements.
VA loans
0% down for eligible veterans, active-duty service members, and surviving spouses — with no monthly mortgage insurance.
USDA loans
0% down for homes in eligible areas outside the metro core — much of greater Minnesota qualifies.
MN Housing Start Up
Minnesota’s first-time buyer program with competitive fixed rates plus down payment and closing cost loans.
Down payment assistance
Up to $18,000 in Minnesota Housing help — monthly-payment or 0% deferred options, based on eligibility.
Down payment help is real — and most buyers never ask
in down payment and closing cost assistance through Minnesota Housing — with 0% interest, payment-deferred options for eligible first-time buyers. Fairway is a participating Minnesota Housing lender, and Steven works these programs every week.
Program availability, loan amounts, income and purchase price limits are set by the Minnesota Housing Finance Agency and change over time. Figures verified July 2026; confirm current terms with Steven or at mnhousing.gov. Not all applicants will qualify.
- Minnesota Housing Start Up
A first mortgage program built for first-time homebuyers, offering competitive fixed rates on conventional, FHA, VA, and USDA loans through participating lenders — and it unlocks Minnesota Housing down payment and closing cost loans.
- Monthly Payment Loan
Down payment and closing cost help up to $18,000 as a second loan, repaid in monthly installments over 10 years at the same rate as your first mortgage. Available with Start Up and Step Up.
- Deferred Payment Loan
Up to $16,500 for down payment and closing costs at 0% interest with no monthly payment — repaid only when you sell, refinance, move out, or pay off your first mortgage. First-time buyers with a Start Up loan.
- Deferred Payment Loan Plus
Up to $18,000 at 0% interest, deferred the same way, for buyers who meet targeting criteria such as single-parent households, households with a member with a disability, or first-generation buyers.
What first-time buyers say about working with Steven
“Steven Tran is the absolute best at what he does. He's extremely quick in communication, always friendly and helpful, and the exact person you want in your corner when you're trying to make an offer on a house. He's especially the guy you want when yours hasn't sold yet in another state. If I knew anyone looking for a new mortgage in the twin cities I would immediately recommend Steven. He made our buying process the quickest, easiest, and most pleasant experience we've ever had (and we've bought and sold a few houses). I could not be more happy we found Steven to help us finally call Minneapolis home. If you're shopping around for the the right mortgage broker, stop now. You've found him. Seriously.”
“Steven, Tracy, and Jake were all efficient, knowledgeable, responsive, and warm. Steven made our experience not only painless, but actually enjoyable and taught us a lot that no other loan officer we've worked with ever bothered to explain. He made us feel genuinely safe in his guidance and efforts, responded promptly and warmly every time we reached out, and went the extra mile for everything we needed. I would work with him a million more times gladly!”
“Steven was wonderful throughout the entirety of our home buying experience. He was consistently available to us to answer questions and walk us through specific parts of the process. Truly we appreciated all the time he spent working with us. Highly recommend!”
Read more borrower reviews on Steven’s Experience.com profile.
A lender built on people, not just loans
Fairway Independent Mortgage Corporation was founded on a simple idea from CEO Steve Jacobson: it’s not about the loans we do, it’s about the people we help. That culture — speed, humility, and service — is why thousands of loan officers and hundreds of thousands of families choose Fairway.
Hear the story straight from the founder.
First-time home buyer questions, answered
How much do I need for a down payment on my first home in Minnesota?
Often much less than you think. Conventional first-time buyer loans start at 3% down and FHA loans at 3.5% down — and Minnesota Housing down payment assistance can cover some or all of that, up to $18,000 depending on the program. Some buyers get the keys with very little out of pocket.
What credit score do I need to buy a house?
Many programs work with scores in the low-to-mid 600s, and Minnesota Housing programs generally start around 640. If your score is not there yet, Steven can map out a plan to get you mortgage-ready — checking costs nothing.
What is the Minnesota Housing Start Up program?
Start Up is Minnesota Housing’s first mortgage program for first-time homebuyers. It offers competitive fixed rates on conventional, FHA, VA, and USDA loans through participating lenders like Fairway, and it unlocks Minnesota Housing down payment and closing cost loans of up to $18,000.
How long does it take to get pre-approved?
Usually within one business day once your documents are in — often the same day. A pre-approval letter shows sellers you are a serious buyer and tells you exactly what you can afford before you start touring homes.
Does it cost anything to talk to a loan officer?
No. Consultations and pre-approvals with Steven are free, with no obligation. You only incur costs if and when you move forward with a loan.
Do first-time buyers have to take a class to get down payment assistance?
For Minnesota Housing down payment and closing cost loans, at least one borrower must complete an approved homebuyer education course. It is typically available online, and Steven will point you to an approved option as part of the process.