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N O R T H M E T R O1170 Lepak Court • Shoreview, MN 55126 Phone (651) 486-7401 • Fax (651) 486-7424 www.housingresourcecenter.org • www.gmhchousing.orgMOUNDS VIEW HOMEOWNERS Are you thinking about making some improvements around the house? Before you begin your home improvement project call the HousingResource Center - NorthMetro at (651) 486-7401. A program of the Greater Metropolitan Housing Corporation, the HousingResource Center – NorthMetro is a non-profit organization offering several financial programs to Mounds View homeowners.RAMSEY COUNTY RESIDENTIAL REHABILITATION DEFERRED LOAN MHFA FIX-UP FUND LOAN MHFA REHABILITATION DEFERRED LOAN MHFA RENTAL REHAB LOAN PROGRAM SENIOR HOUSING REGENERATION PROGRAM Maximum deferred loan amount is $15,000. Eligible work shall include repairs, replacement or construction to correct local or state code violation, health and safety items, also reduce long-term maintenance and energy costs. The HousingResource Center offers this loan to Suburban Ramsey County residents in two tiers according to income limits - 2009 Area Median Income (AMI) adjusted annually. Low-Income Homeowners: (at or below 50% AMI) Limit for a family of four under $41,950 annual income. The loan is totally forgiven if the homeowner remains in the home for 10 years. Moderate Income Homeowners: (between 50% and 80% of AMI) Limit up to $64,000 annual income for a household of four. The loan is deferred, without interest or payments, repaid in full at time of transfer or sale of the property. Eligible Properties: Properties located within Suburban Ramsey County (excluding the city of St. Paul). Owner-occupied single-family dwellings with the Estimated Market Value at or below $251,750. The Housing ResourceCenter offers a low interest loan from the Minnesota Housing Finance Agency (MHFA) called the Fix-up Fund loan. Maximum loan amount is $35,000. The low interest rate is fixed for terms up to 20 years.Qualified homeowners must have a household gross annual income at or below $96,500. This loan can be used to repair, remodel or improve the energy efficiency of your home. Energy Saver Rebate: With energy-saving improvements, homeowners may be eligible for a rebate of 35% up to $10,000. Another loan program that MHFA is offering through the Housing Resource Center is the Rehabilitation Deferred Loan.With this loan, homeowners can get up to $15,000 in basic home repairs. This 0% interest loan is completely forgivenafter 20 years.Qualifiedhomeowners must have an annual gross income at or below 30% of the area median income (ex: $25,200 for a family of four). Rental property owners may borrow up to $25,000 for a one or two unit property, or $10,000 per unit for larger properties. The maximum loan amount is $100,000.The interest rate is 6%, and the term of the loan may be up to 15 years. At the time the property improvements are completed and the units are rented, 75% of the units must be occupied by persons with an income less than 80% of the median income.This program was designed by the Greater Metropolitan Housing Corporation (GMHC) to benefit older adults and new families. GMHC will purchase homes at fair market value from seniors who are moving into assisted living facilities, nursing homes or senior rental apartments. GMHC then fixes up the home and sells it to an eligible first time homebuyer. There are several homes in this program that are for sale in the North Metro area. The HousingResource Center provides FREE constructionconsultations to residents of Mounds View. Our Construction Manager will provide information on construction, building codes and permits; conduct site visits with homeowners regarding home improvements; assist in reviewing contractor bids, proposals and estimates in the planning stage; and assist homeowners during the construction process.