PPL Home Repair Loan Program
Geographic Service Area:
Minneapolis & St. Paul
Income Limit:
Program Details:
Loans of up to $27,000
Must first be used to address lead and/or radon hazards in the home, then other safety issues
PPL’s Home Repair Loan Program is a state-funded way for low-income homeowners to stay in their homes and live safely in them. Loans of up to $27,000 are awarded for needed home repairs without interest charges, and are forgivable under certain conditions.
The loan must first be used to address lead and/or radon hazards in the home. Funds can be spent to fix other health or safety issues with the house after that. Luxury repairs, demolition, or new construction are not covered by the loan. Repairs must be completed within 9 months after the commitment of the loan.
Qualifying loan recipients: Own a home in Minneapolis or St. Paul. Make 30% or less of the household area median income, $24,850 for a family of four. Have less than $25,000 in additional assets [outside of the home and primary vehicle(s)]. Are applying for/or received a grant from Community Action Partnership’s Weatherization Program.
Loans are made at a 0% rate, meaning there are no additional charges or monthly payments. Loans are forgiven after 15 years if you remain in the home. The loan will be repaid from the sale of the home if it is sold before the 15 year term.
For more information or to fill out an application, call 612-455-5221 or visit our website (www.ppl-inc.org/homerepair).
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