Mounds View: Mobile Home Loan Program

The City of Mounds View is offering low-interest home improvement program to residents living in mobile homes. 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

  • Loan amounts from $2,000 to $10,000
  • 3% (3% APR*) or 4% (4% APR*) fixed interest rate, depending on income.
  • Terms up to 7 years and may be prepaid at any time without penalty
  • No maximum income limit
  • Closing costs apply

Property Eligibility

  • Owner-occupied residential mobile homes located in Mounds View

Types of Improvements

  • Eligible improvements include most interior and 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.
  • 2 bids are required from qualified, licensed contractors for projects over $5,000. 
  • 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.  
*APR is based on $10,000 for 7 yrs.
 
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).