Jordan: Home Purchase Deferred Loan

The Jordan Area Community Council has designated City of Minneapolis NRP dollars for purchasing homes 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.

To ensure funding we need a signed and executed purchase agreement and the application must be submitted at least four weeks prior to closing.

Loan Terms

  • Loan amounts from $1,000 to $4,000
  • 0% APR
  • Income limits dictate term and forgivness
  • 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).