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NWHP & Little Canada Suggested Guidelines <br />(See Draft Guide for full suggested guidelines) <br />Notes in italic <br />Loan Amount: The maximum loan amount is $10,000. Minimum loan amount is <br />$2,000. <br />Loan Term: Loan is fully forgivable on the day after the 10 year anniversary of <br />the note. The Loan is due upon sale of the manufactured home, transfer of title, <br />refinance or if the property ceases to be owner -occupied. <br /> Strong preference from City for grants or forgivable assistance <br />Loan Security: All loans will be secured by a lien in favor of the City of Little <br />Canada. The loan may be secured in a subordinate lien position behind other <br />loans in accordance with the City’s loan subordination policy.