The Minnesota Fix-Up Fund is a statewide program that offers loans at below market interest rates to homeowners. The Fix-Up Fund was established to improve the basic livability and/or energy efficiency of the borrower's home. Eligible projects include interior or exterior improvements and general remodeling.
Loan Terms
Eligible Borrowers
- Gross annual household income of $96,500 or less
- Borrowers must own the property or be purchasing it through a mortgage or contract for deed
- You must close on the loan prior to beginning project(s).
Proof of Income
- If you are employed submit copies of your two most recent paystubs.
- If you are retired submit a copy of your social security benefits or pension.
- If you are self-employed submit copies of your Federal Tax Returns for the last 2 years.
Eligible Improvements
- Most improvements are eligible, interior or exterior maintenance or remodeling, including kitchen, flooring, windows, driveways, fences, energy improvements and more!
- Applicants must provide bids for each improvement project.
- If you are uncertain about the eligibility of your improvement contact the Center for Energy and Environment at (612) 335-5884.
Eligible Structures
- Owner-occupied, 1-4 unit properties
- Up to 49% of the residence may be used for business
- Property must be a completed structure
Contractors
Loan recipients must submit bids or materials lists. All contractors must be properly licensed to work.
Optional Sweat Equity (for the do-it-yourselfer)
Applicants must clearly demonstrate the ability to complete high quality work within the required time period. Loan funds will be allowed for materials only, property owners will not be compensated for their labor.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).