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St. Anthony Village: <br />St. Anthony East Revolving Loan Program <br />A 4% interest loan fora maximum of $10,000 and a loan term of 10 years is available <br />to single - family homes, and a 4% interest loan for maximum of $20,000 and a loan <br />term of 10 years is available to duplex or mufti-family properties. Owner- occupied and <br />absentee -owned properties are eligible to participate in the program, and there is no <br />income restriction. The loan funds can be used for interior and exterior home <br />improvement projects. <br />Rehab Incentive Program <br />The Rehab Incentive Program provides a cash rebate to homeowners who complete <br />home improvement projects. The rebate amount is calculated as a percentage of <br />eligible rehabilitation costs. Homeowners with incomes at or below 115% of the area <br />median income, or $88,206, are eligible to receive a 10 %, 12% or 15% rebate <br />depending on income. The maximum rebate amount is $3,000 per household. <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 rnonthly <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 />Minneapolis Basic Home Improvement Loan: <br />You must live in your home, whether it's a single - family home or a rental property with <br />4 units or less. Ma amum loan of $25,000, depending upon your affordability and <br />amount of equity in your home. This program has an interest rate of 5.5% and is <br />available to homeowners with some credit issues. <br />Minneapolis City Code Abatement Loan: <br />If you are in an owner occupant of a property with three units or less, and have <br />received orders from Minneapolis Department of Inspections to make repairs, and <br />you're not eligible for other loans available through the HousingResource Center, you <br />may he eligible for this loan. <br />-10- <br />