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Market Rate Interest Subsidy Program <br /> Page 3 <br /> i. An interior that is finished in a manner common to the locality for properties <br /> of the same general type as the property to be improved. <br /> Multi-Unit Properties <br /> For all properties which now contain or will contain upon completion of improvements, more than <br /> one dwelling unit: <br /> 1. The property must contain no more than four(4) dwelling units. <br /> 2. The borrower must occupy one of the dwelling units as borrower's principal place of <br /> residence. <br /> Manufactured or Factory-Made Houses <br /> A manufactured or factory-made dwelling unit is eligible to be improved with a loan only if the <br /> following requirements are met: <br /> 1. The dwelling unit has been placed on property owned by the borrower or being <br /> purchased under a real-estate contract. <br /> 2. The wheels of the dwelling unit have been removed and the dwelling unit has been <br /> placed on a permanent foundation. <br /> 3. The security for the loan to purchase the dwelling unit is in the form of a mortgage <br /> covering the property. <br /> 4. All utility connections including water and sanitary facilities are operable so that the <br /> dwelling unit is complete and habitable. <br /> 5. The dwelling unit is carried on the tax rolls of Ramsey County as real property. <br /> 6. The property to be improved meets all other eligibility standards set forth in this <br /> policy. <br /> Eligible/Ineligible Improvements <br /> Type of Improvement Eligible Ineligible <br /> Handicapped accessibility bathroom modifications • any improvement which is <br /> improvements which are permanent • installation of grab bars and no a permanent fixture to <br /> fixtures handrails the property. <br /> • lifting devices <br /> • main level bathroom <br /> addition <br /> • main level bedroom <br /> addition <br /> • ramp addition <br /> • sidewalk addition or repair <br /> • widening doorways <br /> • widening hallways <br />