Fix Up Fund Home Improvement Loan

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This loan from Minnesota Housing Finance Agency (MHFA) is established to encourage and support repairs to existing homes.

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 also offer special programs and incentives for several Minnesota cities and neighborhoods. 

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About the Loan

  • Maximum qualifying income of $185,700 or $167,000 depending on where the home is located; if the household income is over the income limit but one borrower's income is below the limit, you may qualify using the individual borrower's income. Find more information under loan terms. 
  • Loan amounts from $2,000 – $75,000.
  • Terms up to 20 years.
  • Financing available for 100% of project costs. 
  • No prepayment penalty. 
  • Closing costs apply. 


  • Owner-occupied, primary residence.
  • Most permanent home improvement projects are eligible. 
  • Loan approval is subject to credit and program guidelines.
  • Properties cannot be in the name of a Trust.

Current Rates

Subject to change at any time. APR based on loan amount of $75,000. 

Rates starting at Term APR as low as Payment example
6.625% 5 years 7.147% $19.62
7% 10 years 7.281% $11.61
7.375% 15 years 7.578% $9.20
7.875% 20 years 8.042% $8.29

Calculate My Payments

Based on current rates. Qualifications apply.

Loan Details

  • This loan is secured by a mortgage to the property.
  • Closing costs apply.
  • An unsecured option may be available.
  • Maximum qualifying income of $185,700* or $167,100**; if the household income is over the income limit but one borrower's income is below the limit, you may qualify using that individual borrower's income.
    • *This income limit is for the 11-county Twin Cities Metro Area including Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington, and Wright counties, as well as Dodge and Olmsted counties.
    • **This income limit is for all other counties.
  • Most improvements are eligible including EV charging stations.
  • 1 bid is required from a properly licensed contractor or registered with the MN Department of Labor
  • For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.

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. Such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

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