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Mounds View: <br />Mounds View Manufactured Housing Program: <br />This program contains two deferred loans for the Mounds View Manufactured Home <br />Community: 1) for the borrower's down payment and /or closing costs for the mortgage <br />being used to finance the purchase of a new manufactured home and 2) for the <br />borrower's rehabilitation of an existing manufactured home. A 0% interest loan for a <br />maximum of $5,000 is available for purchasing a home, and a 0% interest loan for a <br />maximum of $3,000 is available for rehabilitating the home. The loan is forgiven after 5 <br />years unless the property transfers ownership before 5 years. To qualify for a loan the <br />borrower must be at or below 80% of the area median income. <br />MHFA Fix Up Fund Loan: <br />This is a 5.25% interest loan for a maximum of $25,000 and a maximum term of 20 <br />years is available to credit worthy owner - occupied single - family homes, duplexes, <br />triplexes and fourplexes. The maximum income to qualify for the loan is $75,000, and <br />most home improvements qualify except for luxury items, such as swimming pools. <br />This is a program of the Minnesota Housing Finance Agency (MHFA). <br />MHFA Rental Property Loans: <br />Maximum loan up to $100,000 to finance rental property. ($25,000 for a single - family <br />home or duplex; $10,000 per unit in a multiple -unit dwelling.) Interest rate is 6% for up <br />to 15 years. <br />MHFA Rehabilitation Loan: <br />This loan is a 0% interest, 30 -year loan for financing up to $15,000 for permanent <br />repairs to the home. The loan is deferred so homeowners have no interest or monthly <br />payments. Eligible homeowners must have an annual adjusted gross income of <br />$18,000 or less, and eligible properties include single - family homes, duplexes and <br />manufactured housing taxed as real or personal property. In addition, homeowners <br />with a disability can qualify for a maximum loan of $20,000. This is a program of the <br />Minnesota Housing Finance Agency (MHFA). <br />Construction Management Services: <br />The HousingResource Center provides free construction consultations to residents of <br />participating communities. These services include: <br />.Information on construction, building codes and permits <br />.Site visits with homeowners regarding home improvements <br />.A written scope of work or a list of work for contractors to bid from <br />,Assistance in reviewing contractor bids, proposals and estimates <br />.Assisting homeowners during the construction process <br />