Mounds View: Emergency Repair Loan
To qualify for this program borrower(s) must not be eligible for any other financing administered by CEE.
The intent of the Mounds View Emergency Repair Loan Program is to provide funds to owner-occupants of properties who face emergency home repairs and are unable to obtain funds to repair the problem(s) through traditional funding sources.
Definition of Emergency
An emergency is defined as an imminent condition that makes a house uninhabitable, dangerous to the occupants, or is capable of causing severe health problems. Repairs that will remedy such emergency repairs are eligible.
Loans from $1,000 - $5,000
0% (APR) fixed interest rate
The Deferred Loan is 100% due if the property ownership changes
All borrowers must be a legal resident of the United States, as evidenced by a social security number.
Types of Improvements
Eligible improvements will be determined through a required analysis of the emergency condition of the property.
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).