Just purchasing a home and it needs a few repairs? Or perhaps you are already a homeowner in need of funds to "fix up" your castle?
Either way, you may want to stay away from the sometimes expensive rehab loans and look to the State as a wonderful alternative.
The State of MN offers a very attractive program for your home improvement projects for MN residents.
Appropriately called the "Fix Up Fund".
Here are the highlights:
- Household income at or below $96,500
- Property must be owner-occupied
- You can hire a contractor or do the work yourself
- Up to a 20 year term
- Loan amounts up to $35,000
- Most repairs that will improve the efficiency of your home are okay...no swimming pools, please!
- Whoa! And those who complete the improvements may be eligible for a rebate, up to 35% of the cost of repairs. Nice!
The best part is the rates are VERY low...currently at 5.99%!
For more information, contact a sponsoring lender today.
