Minnesota Housing leads in social impact bonds

Minnesota Housing issued the third-most bonds in the country designated as having positive social impacts in 2022, according to a March report issued by Standard & Poor (S&P) Global Ratings.

Social impact bonds raise funds for new and existing projects with positive social outcomes. Minnesota Housing is recognized by S&P as a leading issuer of bonds independently verified for providing access to essential services, affordable housing, and socioeconomic advancement and empowerment. The Agency is commended for demonstrating a continued commitment to reducing disparities in homeownership in Minnesota.

The Agency issues bonds to finance mortgages for households with low incomes through our Start Up program for first-time homebuyers. We established a goal to have 40% of first-time homebuyer mortgages going to Black, Indigenous and households of color by the end of 2023. We met this goal one year early and continue to prioritize lending to these communities.

Additionally, Minnesota Housing delivers positive social impacts by financing homebuyer education and providing rental assistance.

Minnesota Housing is also among the top 10 social bond issuers in the nation for 2013-2022.

Minnesota Housing is in good company alongside other housing finance agency peers such as Texas, Illinois, Michigan and Connecticut.