Cleveland Deferred Loan

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The intent of the Cleveland Neighborhood Association NRP home improvement deferred loan is to support homeowners in the Cleveland Neighborhood to stabilize and improve the condition of the neighborhood’s existing housing.

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Please call us at 612-335-5884 for complete details.

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Hablamos Español: 612-335-5856

About the Loan

  • 0% APR.
  • No monthly payments.
  • Loan amounts from $1,000 to $10,000.
  • No down payment required. 


Property Eligibility

  • Owner-occupied 1-4 unit residential properties.
  • Individual condominium, and/or townhouse units are eligible.
  • ​Properties held in a trust are eligible.
  • Loan approval is subject to credit and program guidelines.

Loan Details

  • Income limits apply. 
  • Closing costs apply. 
  • Fixed interest rate.
  • 100% of the loan is forgiven if the borrower owns and occupies the property for 10 years.
  • This loan is secured by a mortgage on your property.
  • Borrowers may have a maximum of two NRP loans out from any combination of the programs at any one time.


  • Eligible projects include most interior and exterior permanent improvements.
  • Unless part of a larger project or needed to address a potential structural threat: fences, trees, shrubs and other non-permanent landscape improvements are not eligible.
  • 2 bids required from properly licensed contractors for projects over $15,000. 
  • For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.
  • Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.

The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

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