Anoka Deferred Home Improvement Loan

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The City of Anoka HRA has allocated funds for homeowners of single family owner occupied residences in the City of Anoka to make general improvements to their properties.

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability.

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About the Loan

  • 0% (.108 APR)*.
  • No monthly payments.
  • Income limits apply.
  • Loan amounts from $1,000 to $10,000.

*APR is based on $10,000 for 30 years. 

Property Eligibility

  • 1-4 unit, owner-occupied properties located within the geographical boundaries of the City of Anoka.
  • Individual condominiums and townhouse are eligible.
  • Loan approval is subject to credit and program guidelines.

Loan Details

  • ​Loan is forgiven after 30 years. 100% of the loan is due upon selling, transferring or the property is no longer owner-occupied prior to 30 years.
  • This loan is secured by a mortgage to your property.
  • Borrowers may need to provide matching funds determined by household income.
  • Closing costs apply.
  • A site visit conducted by a CEE representative is required to prioritize eligible improvements.
  • Improvements must be addresses in the order of CEE's recommendations. 
  • For do-it-yourself projects, a materials list including prices is required.  The cost for labor and equipment purchase or rental may not be included in the loan.
  • 1 bid is required from a properly licensed contractor.
  • Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.  

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).

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