Jordan Down Payment Assistance Loan
The Jordan Area Community Council has designated City of Minneapolis NRP dollars for purchasing homes in the neighborhood.
NOTICE: To ensure funding we need a signed and executed purchase agreement and the application must be submitted at least FOUR WEEKS prior to closing.
The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Email or call for complete details.
Hablamos Español: 612-335-5856
About the Loan
- 0% APR.
- No monthly payments.
- Loan amounts from $1,000 to $4,000.
- 1-4 unit owner-occupied residential properties located in the Jordan Neighborhood.
- Loan approval is subject to credit and program guidelines.
- To ensure funding we need a signed and executed purchase agreement and the application must be submitted at least four weeks prior to closing.
- 0% APR.
- Income limits dictate term and forgiveness.
- Borrowers may have a maximum of two NRP loans out from any combination of the programs at any one time.
- Must be considered a first time homebuyer (someone who hasn’t owned a home within the last 3 years).
- Funds may be used for down payment or closing costs.
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).