St. Louis Park Move Up in the Park Deferred Loan

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The City of St. Louis Park currently offers home improvement financing for St. Louis Park residents who are increasing the square footage of their homes by building an addition either up or out from the existing property. 

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

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About the Loan

  • 0% (.204 APR)*.
  • No monthly payments.
  • Income limits apply.
  • Loan amounts up to 25% of the project costs from $8,750 to $35,000

*APR is based on $25,000 for 30 years. 

Property Eligibility

  • Owner-occupied, 1-4 unit properties located within the geographical boundaries of the City of St. Louis Park.
  • All borrowers are required to have an audit conducted by a utility company or independent approved Home Energy Rating System (HERS) auditor. 
  • Properties under construction or held in Trust are not eligible.
  • Loan approval is subject to credit and program guidelines.

Loan Details

  • ​Loan is forgiven after 30 years. 100% of the loan is due upon selling, transferring or the property is no longer owner-occupied prior to 30 years.
  • This loan is secured by a mortgage to your property.
  • For households of 4 or less, the income limit is 120% AMI for a 4 person household.
  • For households of 5 or more, the income limit is 120% AMI for a 5 person household.
  • Only one loan per household.
  • 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.
  • Eligible improvements include: renovations that significantly increase the square footage of the property.
  • Loans greater than $10,000 require an energy audit to be conducted.
  • 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.
  • 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.  
  • All work must be completed within 9 months from closing. 

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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