Fridley: Home Improvement Loan

The City of Fridley’s Housing and Redevelopment Authority (HRA) currently offers low-interest home improvement financing and remodeling advisor services to Fridley residents. The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Please call us at 612-335-5884 for complete details.

Loan Terms

  • No income limits
  • Loan amounts from $1,000 to $50,000
  • 4.5% fixed interest rate (4.632% APR)*
  • Terms up to 20 years
  • This loan is secured by a mortgage on your property
  • Closing costs apply

Property Eligibility

  • Owner-occupied residential properties
  • 1-4 units
  • Properties under construction or held in Trust are not eligible

Types of Improvements

  • Eligible improvements include most interior or exterior maintenance or remodeling.  
  • 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.
  • Bids are 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).

*APR based on $50,000 for 20 years