– MN Fix Up –
MN Fix Up Fund is the surest help for you if you are in a situation where your home needs repair, then you might be worried about what you’re going to do. With MN Fix Up Fund you could qualify for help that provides you the relief you’ve been hoping for.
The Minnesota Housing Fix Up Loan Program allows those who are qualified to repair, remodel and make energy and accessibility improvements to their home.
Loans go up to $50,000 with affordable, fixed interest rates. Longer repayment terms mean the option for lower monthly payments, and both secured and unsecured loan options are available.
About MN Fix Up Fund
The Minnesota Fix-Up Fund is a state-wide program that offers loans at below-market interest rates to Minnesota Homeowners. The Minnesota Fix-Up Fund was established to improve the basic livability and/or energy efficiency of the borrower’s home.
However, Fix Up works for a variety of projects and incomes, in homes all around the state. You can hire a contractor or even do projects yourself.
What Projects are Eligible?
Single-family homes, duplexes, triplexes, and fourplexes are eligible. You must own and occupy the property to be improved.
Repair, remodel, and make energy-saving improvements including:
- Porches and decks
- Remodel a bathroom or kitchen
- Add a bathroom or finish the basement
- Furnace or boiler and air conditioning*
- Windows* and doors
- Insulation,* attic air sealing*
- Water heater*
- Siding and roofing
- Septic system upgrades
- Mold and radon mitigation
- Accessibility improvements*
- Basic garage, if none exists
Fix Up Loan Program
Hassle-free home improvement loans from the Minnesota Housing Fix Up Loan Program
- Affordable, fixed interest rates with the lower interest rate for energy conservation and accessibility improvements
- Secured and unsecured loan options
- The higher loan-to-value ratio on secured loans than on traditional loan products
- Longer repayment terms for lower monthly payments
- Hire a contractor or do the work yourself
- No prepayment penalty
|Secured||$50,000||10 to 20 years||Income Limits|
|$15,000||10 to 20 years||No income limit|
|Unsecured||$15,000||10 years||Income Limits|
|$15,000||10 years||No income limit|
This project was made possible by a grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).
City and County Specific Home Repair Grants
You might be able to get help through the Dakota County housing authority. Keep in mind that most housing repair assistance in Dakota County is with low-interest loans and not grants.
The Hennepin County community action partnership offers help with loans. They might be able to help with a low-interest loan to contribute toward repairs or pre-foreclosure assistance.
You must apply through the county and you must meet certain requirements. Emergency help could be available. In an effort to beautify the city, Minneapolis offers some grants to some residents for home repair. These grants are based on need and income.
If you’re in the St. Paul city limits, you could qualify for help from Rebuilding Together. The organization provides loans and grants to those who are in the Twin Cities. They offer low-interest loans to help you fix your home.
St. Louis County
Those who are in St. Louis County could get help with low-interest rate loans. These loans are capped at $2,500 and come with interest fees of 6% or less depending on your credit. They can be used for repairs and can help you make your home better.
If you live in Duluth, you might qualify for low-interest rate loans also! These loans come in varying amounts.
You can get grants for many different repairs. After working so hard to accomplish your dream of homeownership, you shouldn’t let something like home repairs bring you down. Instead, visit your local housing authority or even talk with your local assistance office.
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