Minneapolis Advantage NSP Mortgage Assistance
What is the NSP Mortgage Assistance?
Like many cities across this nation, Minneapolis has experienced foreclosures and the effects of vacant homes in our neighborhoods. The federal government created the Neighborhood Stabilization Program (NSP) to help cities to develop programs that will allow foreclosed homes to be rehabbed in some case or simply sold to owner occupants in others. The City of Minneapolis created the NSP Mortgage Assistance program to help potential buyers purchase and live in a home that was foreclosed. In 2011, the program has $1.5 million available for loans up to $10,000 for households up to $100,800 or $20,000 if you at or below $67,200. These funds can be used to pay for closing costs and down payment.
Income eligibility requirements apply. Loans will be given on a first come, first serve basis and are for purchasing homes in eligible neighborhoods (map) . For more information, see the program guidelines.
For More Information and questions about how to apply call Greater Metropolitan Housing Corporation at (612)588-3033.
Online information from the City of Minneapolis at MinneapolisMN.gov/CPED
Last updated Oct. 31, 2011