Lowry Hill East Multifamily Residential Loan
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About the Loan
- No maximum income limit.
- Loan amounts up to $30,000.
- Terms up to 10 years.
- 2+ unit multifamily properties within the Lowry Hill East Neighborhood.
- Loan approval is subject to credit and program guidelines.
Subject to change at any time. APR based on loan amount of $30,000.
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Based on current rates. Qualifications apply.
- 1:1 match required.
- Most interior and exterior improvements eligible including accessory dwelling units.
- Unless part of a larger project or needed to address a potential structural threat: fences, trees, shrubs and non-permanent landscaping are ineligible improvements.
- 1 bid is required from a properly licensed contractor for projects under $15,000. 2 bids are required for projects over $15,000.
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).