Stillwater

Washington County Owner-occupied Residential Deferred Loan
This is a no-interest deferred loan for households earning up to 80% of the area median income. The maximum loan is $18,000. Single family detached homes, townhouses, condos and twin homes are eligible. Eligible properties must have an estimated market value at or below $242,850. The funds may be used for basic interior and exterior improvements (townhomes and condos only eligible for individual interior repairs). Note: All areas of Washington County may access this loan program with the exception of Grey Cloud Island Township, Marine on St. Croix and Woodbury.

Minnesota Housing Rehabilitation Loan
This is a no-interest deferred loan for very low-income homeowners whose annual income does not exceed 30% of the area median income. The maximum loan amount is $27,000 to make improvements that directly affect the safety, livability or energy efficiency of a home. Eligible properties must be owner-occupied single-family detached homes, condominiums, townhomes and mobile homes taxed as personal property. The loan is forgiven if the homeowner lives in the home for 15 years after the loan is incurred (10 years for mobile homes).

Minnesota Housing Emergency and Accessibility Loan
This is a no-interest deferred loan for very low-income homeowners to finance repairs that address 1) emergency conditions that are an immediate threat to health and safety or 2) essential accessibility improvements. Gross household income cannot exceed 30% of the area median income. The maximum loan amount is $15,000. Eligible properties include owner-occupied single-family detached homes, duplexes, condominiums, townhomes and some mobile homes. The loan is forgiven if the homeowner lives in the home for 15 years after the loan is incurred (10 years for a mobile home).

Minnesota Housing Fix Up Loan
The Housing Resource Centers offer low interest loans including the Minnesota Housing Fix Up Loan. This is a home improvement loan for up to $50,000 at a fixed interest rate. The loan term may be up to 20 years. These loans can be used to repair, remodel or keep your home warm…and save money too! Contact the Housing Resource Center for the current interest rate and income limits.  Ask about new Fix Up Loan features that include unsecured loans up to $15,000 with no equity requirement, and loans at a reduced interest rate when used exclusively for basic energy-saving or accessibility improvements; maximum loan $15,000.

Minnesota Housing Rental Rehabilitation Loan Program
You may receive up to $25,000 for a one or two unit property, or $10,000 per unit for larger properties, with a maximum loan amount of $100,000. The interest rate is 6%, and the term of the loan may be up to 15 years. At the time the property improvements are completed and the units are rented, 75% of the units must be occupied by persons with an income less than 80% of the median income.

For more information contact the HousingResource Center™ – North & East Metro
1170 Lepak Court
Shoreview, MN 55126
Phone: (651) 486-7401