Jordan: Deferred Safety Loan

The Jordan Area Community Council has designated City of Minneapolis NRP dollars for improving housing safety in the neighborhood. 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.

Loan Terms

  • Loan amounts from $500 to $5,000
  • 0% APR
  • No income limits
  • Terms up to 10 years - No repayment is due if the property owner remains in the home for 10 years
  • This loan is secured by a mortgage on your property
  • Closing costs apply
     

Property Eligibility

  • Owner-occupied residential structures
  • 1-4 units
  • Townhomes, condos, and properties under construction or held in Trust are eligible

Types of Improvements

  • Projects that improve the safety and security of the home including fences, carbon monoxide detectors, security doors, window guards, security lighting, and surveillance systems.
  • Work can be performed on a “sweat equity” basis. Loan funds cannot be used for labor, only for materials.
  • 2 bids are required for all projects in excess of $5,000.

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).