Houses for Heroes provides Reservists and National Guard members who are currently deployed in the Global War on Terror, or who have returned from deployment, with up to $20,000 in assistance to purchase a home in Minneapolis. Funds may be used toward the cost of down payment, normal and usual closing costs and for certain types of improvements to the home. The assistance is provided in the form of a no-interest, deferred loan with no monthly payments. The loan is forgiven at a rate of 20% per year for up to five years as long as the home buyer resides in the purchased property. After five years the loan is totally forgiven.
Click here for the application.
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