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.
- 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.
Subject to change at any time. APR based on loan amount of $50,000.
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Based on current rates. Qualifications apply.
- Secured by a mortgage to your property.
- Closing costs apply.
- 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.
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).