The City of White Bear Lake has teamed up with Ramsey County and the Minnesota Housing Finance Agency to promote several loans available to homeowners for general repairs, energy improvements, and necessary fixes. Most loans have qualifications, such as income level, that designate who can receive the loans. The Neighborhood Energy Connection has disbursed approximately 75 grants and 60 loans to White Bear Lake homeowners in the past five years, and the Housing Resource Center has disbursed even more loans. There is no deadline for applying, and new funds are dispersed every July. For more details, contact the Greater Metropolitan Housing Corporation at 651-486-7401, or the Neighborhood Energy Connection at 651-221-4462.
MHFA FIX UP FUND LOAN
This is a home improvement loan for a maximum of $35,000 and a maximum term of 20 years, with a fixed rate for the term of the loan. Please contact the Housing Resource Center for the current interest rate. The loan is available to credit-worthy applicants for owner-occupied, single-family homes, duplexes, tri-plexes and four-plexes statewide. The maximum income to qualify for the loan is at or below $93,100. Most home improvements qualify, except for luxury items such as swimming pools. This is a program of the MHFA. As an initiative of the Fix Up Fund, the MN Energy Loan involves getting an NEC Home Energy Audit before applying for the loan. This loan has eligibility requirements similar to the Fix Up Fund Loan, but is administered by the Neighborhood Energy Connection (NEC).
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RAMSEY COUNTY REHABILITATION DEFERRED LOAN
Rehabilitation funds are available for low-income homeowners (at or below 50% of Area Median Income, AMI) or moderate income homeowners (between 50-80% of AMI) who live in suburban Ramsey County. Home improvement loans are deferred without interest or monthly payments. Up to $15,000 may be used for basic and necessary improvements which make the home more livable, more energy efficient, or more accessible for disabled persons. The types of projects eligible for funding might include: replacement of a deteriorating roof, old/inefficient furnace, new storm windows and doors, bringing electrical and plumbing up to code, and improvements to meet the needs of disabled persons. This program is administered by The Housing Resource Center, a program of the Greater Metropolitan Housing Corporation of the Twin Cities.
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