Home Improvement Loan Program

The Home Improvement Loan program is a statewide program that was established to encourage and support the preservation of existing housing. The program provides loans to improve the basic livability and/or energy efficiency of the borrower's home. The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Please call us for complete details.

Thanks to local partnerships, we offer special programs and incentives for several Minnesota cities and neighborhoods. Call Brenda at 612-335-5891 to make sure you get the best deal for your area.

Loan Terms

  • No maximum income limit 
  • Loan amounts from $1,000 - $20,000*
  • Interest rate of 5.99%(6.032% Annual Percentage Rate**)
  • Terms up to 120 months*
  • This loan is secured by a mortgage on your property (an unsecured option may be available)
  • Closing costs apply

Property Eligibility

  • Owner occupied, primary residences
  • Properties under construction or held in trust are not eligible

Types of Improvements

  • Most improvements are eligible.  Call 612.335.5884 for details.
  • 1 bid is required from a qualified, licensed contractor
  • 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.




*Applicants may be eligible for higher loan and term amounts depending on income
** Rates as of 10/13-subject to change. APR is based on $10,000 loan amount for 60 months
Average closing costs are $430.00 

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).

effective 10/13