Coon Rapids Deferred Loan

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The City of Coon Rapids currently offers deferred payment home improvement financing to provide assistance to property owners who face home repairs and are low income. 

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Email or call for complete details. 

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About the Loan

  • 0% APR.
  • No monthly payments.
  • Loan amounts from $1,000 to $15,000.
  • No down payment required. 


Property Eligibility

  • 1-4 unit owner-occupied residential properties.
  • Townhomes, twinhomes, condo units and properties held in a trust are eligible.
  • Properties under construction are not eligible.
  • Property must be valued at $400,000 or less based on most recent property tax statement.
  • Loan approval is subject to credit and program guidelines.

Loan Details

  • This loan is secured by a mortgage on the property.
  • 100% is due upon property sale, transfer or is no longer occupied by the owner.
  • Closing costs apply.
  • Maximum income limit is 60% of AMI based on household size and most recent tax return.


  • General, permanent improvements including alterations, renovations or repairs to correct defects or deficiencies affecting building code, safety, habitability, energy consumption or accessibility to the property.
  • CEE will come out to the property to do an inspection where they will identify and prioritize eligible projects.
  • 1 bid is required from a qualified, 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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