Blaine Last Resort Loan

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The City of Blaine Economic Development Authority is offering a program to help residents finance necessary home improvements. This is a last resort program: the borrower must not be eligible for any other financing in order to obtain a Last Resort loan.

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

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Hablamos Español: 612-335-5856

About the Loan

  • 0% (.247% APR).
  • No monthly payments.
  • Loan amounts from up to $10,000.
  • Loan amounts up to $7,500 for mobile homes. 
  • No down payment required. 

* APR is based on a loan of $7,500 over 20 years. 

Property Eligibility

  • 1-4 unit, owner-occupied residential properties in the City of Blaine.
  • Manufactured homes, condos, and townhomes are eligible.
  • Properties under construction or held in Trust or through a contract-for-deed are not eligible.
  • Loan approval is subject to credit and program guidelines.
  • To qualify for this program borrower(s) must not be eligible for any other financing administered by CEE.

Loan Details

  • Loan amounts up to $10,000 for 1-4 unit homes; up to $7,500 for manufactured homes.
  • Secured by a mortgage to your property.
  • Closing costs apply.
  • Loan term is 20 years – No repayment is due if the property owner remains in the home for 20 years.
  • 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.  
  • This program is available to make emergency repairs or to address existing housing code violations. Code violations are determined by reading the City of Blaine’s documentation.  Emergency repairs are determined by an inspection from a CEE inspections staff member. 
  • 2 bids are required from a properly licensed contractor or registered with the MN Department of Labor. if work exceeds $15,000.
  • ​Income limit 110% of HUD Adjusted Median Income limits based on family size.

Remodeling Advisor Visits are designed to help homeowners get started on their home improvement projects. During a visit, one of our experienced remodeling advisors will come out to your house to discuss potential remodeling projects, help you prioritize projects, assist in reviewing contractor bids, or answer any questions. This service is free for Blaine homeowners and is limited to one visit per household. 

To schedule your appointment, contact Cristina Lussio at 612-335-5856.

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).

Browse More Blaine Loans

Thanks to Blaine's partnership with CEE, we offer additional loan programs for Blaine residents. 


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Not sure what program works for you? Contact us.