Brooklyn Center Home Improvement Loan
The Economic Development Authority of Brooklyn Center has funds available for homeowners to assist with home maintenance and energy improvements.
The Brooklyn Center Interest Subsidy Program is designed to supplement existing loan programs available from MHFA, CEE, private lenders, and other housing resources. 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
- Income limits apply.
- Loan amounts from $2,000 to $50,000.
- Terms up to 15 years.
- No down payment required.
Property Eligibility
- 1-4 unit, owner occupied residential properties located in the City of Brooklyn Center.
- Individual condo and townhome owners are eligible.
- Properties under construction or held in Trust are not eligible.
- Loan approval is subject to credit and program guidelines.
Current Rates
Subject to change at any time. APR based on loan amount of $50,000.
| Rates starting at | Term | APR as low as | Payment example |
|---|---|---|---|
| 3% | 5 years | 3.554% | $17.97 |
| 3% | 10 years | 3.287% | $9.66 |
| 3% | 15 years | 3.196% | $6.91 |
Calculate My Payments
Based on current rates. Qualifications apply.
Loan Details
- Secured by a mortgage to your property.
- Closing costs apply.
- 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.
- Eligible improvements include most interior or exterior remodeling and upgrades.
- 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.
- If you need assistance in identifying and prioritizing improvements, residents can request a remodeling advisor visit where you can receive objective remodeling advice. The service is free and includes an informational visit to your property and assistance with collection and evaluation of bids. To schedule an appointment call 612-335-5856.
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 Brooklyn Center 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).
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Thanks to Brooklyn Center's partnership with CEE, we offer additional loan programs for Blaine residents.
