Lind Bohanon: Home Purchase Deferred Loan Program

The Lind Bohanon Neighborhood Association has designated City of Minneapolis NRP dollars for purchasing homes in the neighborhood. This program is a 0% interest fixed rate deferred loan that is forgiven if the borrower retains ownership of the property for 10 years. 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 up to $5,000
  • 0%  fixed interest rate (0% Annual Percentage Rate)*
  • No income limits
  • 10 year term, after which the loan is forgiven
  • Funds may be used for down payment or closing costs
     

Property Eligibility

  • Owner-occupied residential structures
  • 1-4 units

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).

*APR is based on $5,000 for 0%