Fridley Home Improvement Loan

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The City of Fridley’s Housing and Redevelopment Authority (HRA) currently offers home improvement financing and remodeling advisor services to Fridley residents.

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability.

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Hablamos Español: 612-335-5856

About the Loan

  • No maximum income limits.
  • Loan amounts from $1,000 – $50,000.
  • Terms up to 20 years.
  • No down payment required. 

Property Eligibility

  • 1-4 unit, owner-occupied, primary residence.
  • Properties under construction or held in a Trust are not eligible. 
  • Loan approval is subject to credit and program guidelines.

Current Rates

Subject to change at any time. APR based on loan amount of $50,000. 

Rates starting at Term APR as low as Payment example
2% 5 years 2.537% $17.53
2% 10 years 2.275% $9.20
2% 15 years 2.187% $6.44
2% 20 years 2.143% $5.06

Calculate My Payments

Based on current rates. Qualifications apply.

Loan Details

  • Fixed interest rate.
  • Secured by a mortgage to your property.
  • Closing costs apply.
  • 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. 
  • Eligible improvements include most interior or 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.
  • Bids are required from a properly licensed contractor or registered with the MN Department of Labor.

Remodeling Advisor Visits are designed to help homeowners get started on their home improvement projects. During a visit, one of our experienced remodeling advisors will come out to your house to discuss potential remodeling projects, help you prioritize projects, assist in reviewing contractor bids, or answer any questions. This service is free for Fridley homeowners and is limited to one visit per household. 

To schedule your appointment, contact Cristina Lussio at 612-335-5856.

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).

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Not sure what program works for you? Contact us.