Fridley: Multi Family Exterior Improvement Loan

The intent of the Multi Family Home Improvement loan program is to make low-interest home improvement loans available to Fridley multi-unit property owners to make improvements to their buildings.

Loan Terms

  • Maximum Loan amount of $50,000 for 1-4 unit properties and an additional $3,000 per additonal unit
  • Interest rate of 4.5% (APR 4.721)*
  • Terms up to 10 years

Eligable Properties

Absentee owned 1-12 unit residential properties located within the City of Fridley

Eligable Improvements

  • Improvements that correct City code violations
  • Improvements to the exterior of residential structures including but not limited to: siding, painting, exterior windows & doors, and tuck pointing.                                                              

Residential Advisor Visits

CEE will assist residential property owners in the City of Fridley with assistance in prioritizing and evaluating improvements to their property through a home visit. This service is available regardless of whether the homeowner chooses to obtain a loan. One visit is permitted per household.
 

*APR based on $50,000 on a 10 year term

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).