Rehabilitation Loan Program

The Rehabilitation Loan Program is funded by Minnesota Housing Finance Agency and is available to eligible homeowners in Goodhue, Rice, and Wabasha Counties.

Borrower must meet program income limits, 30% of area median income. The following income limits are effective for any loans closed on or after May 1, 2018.

Household Size

Income Limits

1

$21,000

2

$24,000

3

$27,000

4

$30,000

5

$32,400

6

$34,800

7

$37,200

8

$39,600

Loans of up to $27,000 are available for basic and necessary improvements such as:

  • electrical, plumbing, or heating systems
  • energy-saving improvements including insulation and storm windows
  • siding and roofing components to make the home more weather-tight
  • improvements that will increase the property’s compliance with applicable housing codes and regulations

Lead-based paint, radon, and mold hazard mitigation are also addressed. The improvements must be directly related to making the home more livable, safe, and energy efficient. 

The loans are deferred, 0% interest rate, and forgiven after 15 years or due upon sale of the property.

Interested?  Fill out a pre-application today!