St. Anthony West: Revolving Home Improvement Loan
The St. Anthony West Neighborhood is making available NRP dollars that have been designated for home improvements. The intent of this Loan Program is to encourage investment in the St. Anthony West Neighborhood, and to maintain and improve the housing stock. 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. Browse our statewide financing options.
- Loan amounts from $5,000 - $40,000.
- 2% APR for eligible green improvements.
- 3% APR for most other improvements.
- Fixed interest rate.
- No maximum income limit.
- Terms up to 15 years.
- This loan is secured by a mortgage on the property.
- Closing costs apply.
- 1-4 unit owner-occupied residential and absentee-owned structures located in St. Anthony West neighborhood.
- Individual condominium, and townhouse units are eligible.
- Properties under construction or held in trust are not eligible.
Types of Improvements
- Eligible projects include most interior and exterior permanent improvements.
- Eligible "green" improvements include but are not limited to: insulation, radon reduction systems, Energy Star windows and doors, efficient heating and cooling systems, and asbestos abatement.
- 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 bearing escrow 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).