| Minneapolis Programs -- Multi-Neighborhood |
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CityLiving—MinneapolisDescription: The Minneapolis CityLiving program offers the following repair-related loans:
For more information, contact: Mark Anderson Phone: 612-673-5289 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Web: http://www.cityliving.org Minnesota Housing Fix Up Fund LoanDescription: This is a home improvement loan for a maximum of $35,000 and a maximum term of 20 years, with a fixed rate for the term of the loan. Please contact the HousingResource Center for the current interest rate. The Fix Up Fund loan is available to credit worthy owner-occupied single-family homes, duplexes, triplexes and four-plexes. The maximum income to qualify for the loan is $93,100 and most home improvements qualify except for luxury items, such as swimming pools. This is a program of Minnesota Housing that is administered by GHMC. Available in all Minneapolis neighborhoods. For more information, contact the appropriate Housing Resource Center: HousingResource Center-Northeast HousingResource Center- Northwest HousingResource Center-Southside Minnesota Housing Rehabilitation LoanDescription: This loan is a 0% interest, 30-year loan for financing up to $15,000 for permanent repairs to the home. The loan is deferred so homeowners have no interest or monthly payments. Eligible homeowners must have incomes at 30% area median, and eligible properties include single-family homes, duplexes and manufactured housing taxed as real or personal property. In addition, homeowners with a disability and/or lead abatement issues can qualify for a maximum loan of $20,000. This is a program of Minnesota Housing and is administered by GHMC. For more information, contact the appropriate Housing Resource Center: HousingResource Center-Northeast HousingResource Center- Northwest HousingResource Center-Southside The City of Lakes Community Land Trust (CLCLT): Homebuyer Initiated Program (HIP) Rehab GrantDescription: The HIP Rehab Grant provides up to $25,000 for participating households to use to fix up homes purchased through HIP. Rehab funds can be used to address any mechanical, structural, and safety issues that a home has at the time of purchase. The rehab grant helps ensure that an expensive repair will not jeopardize the financial stability of the new homeowner in the first few years of homeownership. Examples of the eligible rehab include roof replacement, plumbing and electrical updates, lead abatement, storm window and door replacement, siding repair, etc. Homes purchased through HIP become CLCLT homes – that is, the homes will be owned by the CLT homeowners, the land is held "in trust" so that affordable housing will be available to future generations of low-to-moderate income homebuyers. The CLCLT and HIP buyers enter into the long-term agreement to preserve affordability through the resale formula. Detailed information about all of CLCLT’s programs, including HIP, is available here. For more information, contact: Staci Horwitz City of Lakes Community Land Trust 2017 East 38th Street Minneapolis, MN 55407 Phone: 612-721-7556 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Neighborhood Housing Services (NHS) of MinneapolisDescription: The mission of NHS is to renew pride, promote and revitalize inner-city neighborhoods through the efforts of local residents, acting in concert within a public / private partnership; and by emphasizing safe, affordable housing through homeownership for low and moderate income individuals and families and under-represented populations. NHS is a non-profit lender that administers many state, city, and neighborhood-specific home improvement loans including low interest and deferred loans. For more information, contact: Neighborhood Housing Services Add this page to your favorite Social Bookmarking websites         |
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Get detailed information about Minneapolis and Saint Paul's CityLiving programs here.
