Minneapolis Home Improvement Lending Programs
Geographic Service Area:
Minneapolis
Income Limit:
Program Details:
Max loan amount ranges from $20,000 to $25,000
The City of Minneapolis administers a variety of home improvement programs on a citywide basis.
Home Improvement Loans
Minneapolis offers amortizing loans at 1 percent interest for home repairs. The maximum term is 20 years. The maximum loan is $25,000. The maximum income to qualify for this loan is 80 percent of the Area Median Income (AMI) for the metropolitan area. This loan can only be used to complete code repairs.
Code Abatement Loans
Minneapolis offers interest-free loans for code abatements for households that are within 50 percent of the Area Median Income (AMI) for this metropolitan area. The maximum loan amount is $20,000. The loan is repaid at the time the house is sold.
For more information
Contact a Greater Metropolitan Housing Corporation Housing Resource Center, or call 612-378-7985.
Homebuyer Stories
The Perfect House at the Perfect Price
Vicky Richardson has three kids and staffs the front desk at Sabathani Community Center in Minneapolis. She’s spent most of her life in the city, but for just over a year had rented a home in Edina through the housing program of Third Way Network, until she found out her unit would no longer be available. Third Way connected her with some resources for finding a new place, and the City of Lakes Community Land Trust (CLCLT) was one of them.
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