Windom Park: Low-Interest Loan
Windom Park Citizens in Action (WPCiA) has made Neighborhood Revitalization Program (NRP) funds available to eligible Windom Park property owners to complete home improvements. 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 amounts from $1,000 - $30,000
- 2% APR
- Fixed interest rate
- No income limit
- Terms up to 10 years
- This loan is secured by a mortgage on the property
- Closing costs apply
- Owner-occupied or absentee-owned residential properties located in the Windom Park neighborhood
- 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.
- 2 bids are required from qualified, licensed contractors for projects over $15,000.
- 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.
- Funds are held in a non-interest escrow bearing 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).