Jordan Home Improvement Loan

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The Jordan Area Community Council has designated City of Minneapolis NRP dollars for housing rehabilitation programs in the neighborhood. This program is a fixed rate loan that is repayable monthly. 

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability.

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612-335-5884   

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About the Loan

  • No income limits.
  • Loan amounts up to $25,000.
  • Terms up to 15 years.
  • No down payment required. 

Property Eligibility

  • 1-4 unit owner-occupied residential properties located in the Jordan Neighborhood.
  • Properties under construction are not eligible.
  • Loan approval is subject to credit and program guidelines.

Current Rates

Subject to change at any time. APR based on loan amount of $25,000. 

Rates starting at Term APR as low as Payment example
3% 5 years 3% $17.97
3% 10 years 3% $9.66
3% 15 years 3% $6.91

Calculate My Payments

Based on current rates. Qualifications apply.

Loan Details

  • Closing costs apply.
  • 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 improvements include most interior or exterior maintenance or remodeling.
  • 2 bids are required from properly licensed contractors for projects over $5,000.
  • 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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Browse our other Jordan loan options.