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25 <br />Home Improvement Financing <br />The 1- lousingRcsource Center —Northeast administers a number of different loan programs and <br />works with residents to direct them to products that best fit their needs. Programs include: <br />St. Anthony Revolving Loan Fund. Assists owner -occupied households to maintain and <br />improve their homes with an installment loan of up to $10,000 at 4% interest, payable over a <br />maximum of 7 years. Funds can be used for interior or exterior improvements, to correct <br />local or state code deficiencies, health and safety items, improve handicap accessibility and <br />reduce long-term maintenance and energy costs. (Please see the attached program <br />guidelines). <br />St. Anthony Rebate Incentive Program. This program fosters revitalization and <br />stabilization, contributing to the overall preservation of St. Anthony's neighborhoods. <br />Depending on household income, the Rebate program provides a 10, 12 or 15 percent rebate <br />to the homeowner on the total cost of a rehabilitation project up to a total rebate of $3,000. <br />Homeowners may complete multiple projects for which they receive a rebate as long as they <br />meet the eligibility requirements and have not exceeded the $3,000 limit. (Please see the <br />attached program guidelines). <br />Minnesota Housing Finance Agency Fix Up Fund Loan. Credit worthy homeowners with <br />incomes at or below $89,000 can receive a fixed rate installment loan up to $35,000 with a <br />maximum loan term of 20 years. The interest rate varies. This loan can be used for almost <br />any home improvements except luxury items. The staff directs homeowners to this loan <br />program if they need financing in excess of the $10,000 they can borrow through the St. <br />Anthony Revolving Loan Program. <br />