St. Louis Park Home Improvement Loan (MHFA Interest Subsidy)

man drilling wood

The City of St. Louis Park is using HRA funds to write down the interest rate on the Minnesota Housing Financing Agency (MHFA) Community Fix Up program to help residents make improvements to their homes.

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

 Apply Now

Hablamos Español: 612-335-5856

About the Loan

  • Terms up to 15 years.
  • Loan amounts from $2,000-$35,000
  • Income limits apply.

Property Eligibility

  • Owner-occupied, 1-4 unit properties located within the geographical boundaries of the City of St. Louis Park.
  • Loan approval is subject to credit and program guidelines.

Current Rates

Subject to change at any time. APR based on loan amount of $35,000. 

Rates starting at Term APR as low as Payment example
3% 5 years 3.518% $17.97
3% 10 years 3.268% $9.66
3% 15 years 3.185% $6.91

Calculate My Payments

Based on current rates. Qualifications apply.

Loan Details

  • Income limit of 115% of AMI base on household size and not to exceed the MHFA income limit. 
  • More than one loan per household is allowed, but the total amount borrowed is not to exceed loan maximum of $35,000.
  • Closing costs apply.
  • For assistance in the design of your expansion project, the city offers an architectural design service. For more info visit or call (952) 924-2196.
  • 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. 
  • MHFA eligible improvements: most permanent exterior and interior improvements are eligible. 
  • Work initiated before the loan has been approved and closed, unless due to an emergency is not eligible. 
  • 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.
  • 1 bid is required from a properly licensed contractor or registered with the MN Department of Labor.
  • All work must be completed within 9 months form closing. 

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 St. Louis Park 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).

Browse More St. Louis Park Loans


woman on phone

Not sure what program works for you? Contact us.