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Fix Up and Community Fix Up Loan Programs

Fix Up Loans

Loans are provided to qualifying low-and moderate-income homeowners. Participating lending partners: process; underwrite; close and fund each loan using normal, prudent underwriting standards; provide their own funds to borrowers; and, sell the loans to Minnesota Housing. The lenders are paid a processing fee per loan, and are reimbursed for the original principal amount of the loan.
Forms

Community Fix Up Loans

This add-on program is for eligible Fix Up lending partners and provides affordable financing to support partnerships that target resources. Lending partners who work with Community Fix Up are able to offer a slightly lower interest rate compared to the regular Fix Up Loan Program. Community Fix Up also has an option for originating loans at a discounted interest rate.

Rehabilitation Loan Program

The Rehabilitation Loan Program (RLP) provides deferred loan financing to eligible low income homeowners who are unable to secure home improvement financing in the private sector.  Funds may be used to improve the existing home’s safety, habitability or energy efficiency. Approved RLP lenders are also eligible to serve as approved ELP lenders.

Emergency and Accessibility Loan Program

The Emergency and Accessibility Loan Program (ELP) assists homeowners needing assistance of an emergency nature or to address essential accessibility.  Approved RLP lenders are also eligible to serve as approved ELP lenders.