South St. Paul Multi-Family Home Improvement Loan


The City of South St. Paul's Economic Development Authority is making funds available to help homeowners to make improvements to their homes. 

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

  • Loan amounts up to $50,000
  • Terms up to 15 years.
  • Income limits apply

Property Eligibility

  • 2-16 unit non-owner occupied properties properties located in the City of South St. Paul 
  • Single family properties, properties that are more than 16 units, cooperatives, properties held in a Trust and properties used for commercial purposes are not eligible. 
  • Loan approval is subject to credit and program guidelines.

Current Rates

Rate is determined by household income. Subject to change at any time. APR is based on loan amount of $50,000.

Rates starting at Term APR as low as Payment example
6.5% 5 years 6.992% $19.57
6.5% 10 years 6.764% $11.35
6.5% 15 years 6.687% $8.71

Calculate My Payments

Based on current rates. Qualifications apply. 

Loan Details

  • Closing costs apply.
  • This loan is secured by a mortgage on your property.
  • Fixed interest rate.
  • 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 projects, including but not limited to roofing, siding, window/doors, insulation, solar, HVAC, electrical, plumbing, garage repair-replacement or new construction, interior remodeling, driveways, sidewalks/steps, painting, fences, and permanent landscaping.
  • 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.
  • 1 bid is 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 South St. Paul 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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