Home Ownership Means Everything (HOME)

Overview: The Home Ownership Means Everything (HOME) will be used to provide loans to qualifying homebuyers to be used to help with down payment or closing costs.

Loan Details

  • Amount: $7,500 maximum
  • Loan Term: Ten yrs.
  • Interest Rate: 0% for years one through five. In years six the interest rate will be set at the 10 year US Treasury Bond rate and remain so through year ten.
  • Fee: $500 of the loan will be used to cover application processing.


  • HOME will take a second position behind the primary lender.
  • The property purchased using HOME funding MUST be occupied by the borrower(s).
  • The loan is not assumable and must be paid in full at or before the sale of the home.
  • The borrower must provide HOME with proof of insurance on the home at the time of closing.


  • The home must be within the incorporated City of Jackson.
  • The maximum home value cannot exceed $150,000.
  • The borrower must meet their lenders’ underwriting criteria in order to qualify for HOME funding. A letter of approval is required to be provided to HOME by the lead lender.
  • All first-time homebuyers will be required to successfully complete the Home Stretch Certification Program prior to application for the HOME loan funds. For more information check out this website: https://swmhp.force.com/swmhpcft/NWSHOP__TrainingCenterCPS
Official Website of the City of Jackson, Minnesota
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