Entry Cost Assistance Deferred Loan (Harrison neighborhood)

Description: Up to $4,000 is available to aid potential homebuyers with closing cost and/or down payment assistance. Loan has a 3% interest rate. Annual household income must be less than 75% of HUD median Family Income (see chart). Applicants need not be first time homebuyers. Owner-occupied, 1-4 unit residential structures located in the Harrison neighborhood are eligible, however; owner occupants of condominiums, town houses or co-operatively owned units are not eligible. Maximum repayment term is 5 years. Loan is forgiven 20% a year. If the borrower remains in their home for 5 years, maintains homestead status, and completes the required post-purchase counseling, the loan will be completely forgiven.

For more information, contact:

Brenda Yaritz
Center for Energy and Environment
212 3rd Avenue North, Suite 560
Minneapolis, MN 55401
Phone: 612-335-5891
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Web: http://www.mncee.org

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“I joke with my friends that Seward is like NYC. There’s international cuisine, corner stores, a live music hot spot, a co-op, a clay center & gallery, a playwrights’ center, a gym, a bagel shop, and even a bowling alley…We border the Mississippi-who needs Central Park when you can jog along the river?”

- Matt
Seward neighborhood, Minneapolis

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