 Home
Improvement Loans for Minnesota Homeowners
The Fix-up Fund is a statewide
program that offers affordable, low-interest fixed
rate loans.
Eligibility Requirements:
- Household income at or below $96,500 (the
income limit may be waived if the
improvements are being made for the
accessibility of a family member with a
disability)
- Property must be owner-occupied
- Single family homes, duplexes, triplexes or
four-plexes are eligible
Loan Features
- Hire a contractor or do the work yourself.
- Maximum loan term of 10 or 20 years based on
loan amount.
- Loan amounts from $2,000 to $35,000
- A higher loan amount may be available if the
improvements are being made for the
accessibility of a family member with a
disability.
Eligible Home Improvements with the
Fix-up Fund
Most improvements to the accessibility or
energy efficiency of a home, or general repairs are
eligible, such as:
- windows
- insulation
- a new furnace
- central air conditioning
- electrical wiring
- a new roof
- a garage
- septic repairs
In addition to energy-saving upgrades, homeowners
may also finance renewable energy improvements.
These include solar thermal, solar electric and wind
turbines/generators.
Ineligible improvements
Swimming pools, hot tubs, gazebos and other
recreational or entertainment facilities. Mobile
homes are not eligible to receive Fix-up Fund
financing unless they are fixed on a permanent
foundation and taxed and financed as real property.
**Watch for details about the new Energy
Saver Rebate program in conjunction with the Fix-up
Fund. Home improvement borrowers may be
eligible for up to a $10,000 rebate for energy
saving improvements. More details will be
announced soon. If you would like to receive
information,
sign up here.
The Rehabilitation Loan program assists low income
homeowners in financing basic home improvements that
directly affect the safety, habitability, energy
efficiency or accessibility of their homes.
Eligibility Requirements for a
Rehabilitation Loan Program Loan
- owner occupies the property to be
rehabilitated;
- owner does not have assets that exceed
$25,000;
- owner meets the following income limits:
| Size of Household |
Income Limits |
| 1 Person |
$17,700 |
| 2 Persons |
$20,200 |
| 3 Persons |
$22,700 |
| 4 Persons |
$25,200 |
| 5 Persons |
$27,200 |
| 6 Persons |
$29,200 |
| 7 Persons |
$31,300 |
| 8 Persons |
$33,300 |
Loan Features
- Maximum loan amount is $24,999 (an
additional $10,000 may be added to satisfy any
necessary lead-based paint hazard reduction
requirements)
-
Maximum loan term is 15 years for properties
taxed as real property and 10 years for
mobile/manufactured homes taxed as personal
property located in a mobile home park.
-
Can be used for rehabilitation of
single-family homes, townhomes and
condominiums constructed after January 1,
1978, and manufactured housing taxed as real
or personal property.
-
All loans are forgiven if the borrower does
not sell, transfer title, or ceases to
occupy the property during the loan term.
Eligible
Home Improvements
Basic improvements to the livability,
accessibility, energy efficiency and addressing lead
paint hazards are eligible. Electrical wiring,
furnace replacement, plumbing and septic repairs are
just some of the possible repairs.
Find a Lender
Minnesota Housing works with
Lending Partners around the state to bring the
Rehabilitation Loan Program to you.
Resources
Energy Saving Home Improvements
For ideas and answers about energy-saving
improvements that can lower your utility bills,
contact the Office of Energy Security via the web
at: www.energy.mn.gov,
or by contacting 1-800-657-3710 or 651-296-5175.
Lead Based Paint Information
If your home was built before 1978, you should take
precautions to address lead based paint hazards that
may arise with home remodeling work. Check with any
contractors you hire to make sure that they are
qualified and use lead-safe work practices. If you
plan to do work yourself, you should seek guidance
on lead-safe improvement practices. Information is
available at these websites:
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