Fix-Up Loan

Last updated: July 21, 2019

Program Overview

Implementing Sector:State
Category:Financial Incentive
State:Minnesota
Incentive Type:Loan Program
Web Site:http://www.mnhousing.gov/wcs/Satellite?c=Page&cid=1358904985835&pagename=External%2FPage%2FEXTStandardLayout
Administrator:Minnesota Housing Finance Agency
Funding Source:Fix-Up Fund
Eligible Renewable/Other Technologies:Solar Thermal Electric, Solar Photovoltaics, Wind (All), Wind (Small), Other Distributed Generation Technologies
Eligible Efficiency Technologies:Water Heaters, Furnaces, Boilers, Air conditioners, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Comprehensive Measures/Whole Building
Maximum Loan:$15,000. Applicants may be eligible for higher loan and term amounts depending on income
Loan Term:Property must be owner-occupied Loan repayment terms: 10 - 20 years
Interest Rate:Interest rate of 4.99%

Summary

The Minnesota Housing Finance Agency's (MHFA) Fix-up Loan provides low-interest financing for energy conservation and other basic improvements to residential properties. A higher loan amount may be available for improvements that enhance the accessibility of the home for a disable family member. Loans are available for up to $15,000. To be eligible for the loan, the home must be occupied by the property owner. 

Another key feature of the MHFA home improvement loan program is the opportunity for homeowners to contract with approved lenders directly. Click here to find a lender near you. In addition, participating homeowners may select and hire contractors of their choice.

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