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Ramsey County: <br />Ramsey County Community Development Block Grant (CDBG) Deferred Loan <br />Program: <br />A 0% interest loan for a maximum of $15,000 is available to owner - occupied single - <br />family dwellings worth $140,000 or less in suburban Ramsey County. The loan will be <br />forgiven after 10 years unless the loan borrower moves from the home. To qualify, <br />loan borrowers must be at or below 50% of the area median income. Homeowners can <br />use these loans to finance exterior and interior rehabilitation of a home and /or existing <br />garage. <br />MHFA Fix Up Fund Loan: <br />This is a 5.25% interest loan for a maximum of 525,000 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 5100,000 to finance rental property. ($25,000 for a single- family <br />home or duplex 510,000 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 />9 <br />