Loans to eligible homeowners to increase the accessibility of their house or make needed fixes

Description

Loan program to homeowners for routine home maintenance, emergency repairs, or accessibility improvements.

Participants must meet income and other eligibility requirements.

Additional Information

Minnesota Housing Finance Agency (MHFA) Rehab Loans assist low income homeowners in financing basic home improvements that directly affect the safety, habitability, energy efficiency or accessibility of their homes.

• There is no interest or monthly payment until you sell, transfer or move from the property or until after the 15th year.
• Basic improvements to the livability, accessibility and energy efficiency, as well as addressing lead paint hazards are eligible. Examples of repairs that may be eligible are roofing, foundations, siding, windows, heating units, electrical, plumbing, health and safety items.

Features

• Area Served by County
  • Lac qui Parle County

• Specialization
  • People with low income

Eligibility

• The property must be owner occupied
• The ownership of the property must be verified, and includes contract for deeds and life estates and trusts
• The household cannot have assets over $25,000
• The household must be current on property taxes and have current homeowner's insurance coverage on the home
• Income limits

Complete eligibility information for the Minnesota Housing Rehabilitation Loan/Emergency and Accessibility Loan Program is available online.