Home Improvement Grant and Loan Programs

Audubon Neighborhood Association Announces Home Improvement Grant and Loan Programs

10/20/2020 The Audubon Park Neighborhood has made NRP dollars available that have been designated to help property owners make necessary repairs and improvements. The intent of this Grant Program is to encourage investment in the neighborhood by improving the housing stock. Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Audubon Park: Emergency Deferred Loan Program

The Audubon Park Neighborhood has made NRP dollars available that have been designated to help property owners make necessary repairs and improvements. The intent of these Programs is to encourage investment in the neighborhood by improving the housing stock. Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

To qualify for this program, borrower(s) must not be eligible for any other financing administered by CEE.

Loan Terms

0% APR
Minimum of $1,000 to a maximum of $5,000 loan amounts
Loan is forgiven after 10 years, if the property is still owned and occupied.
No income limit
This loan is secured by a mortgage on your property
Closing costs apply

Property Eligibility

Owner occupied 1-4 unit residential properties located within the boundaries of the Audubon Park Neighborhood.
Individual condo and townhome owners and properties held in a trust are eligible.

Types of Improvements

An emergency is defined as an imminent condition that makes a house uninhabitable, dangerous to the occupants, or is capable of causing severe health problems

Eligible emergency repairs include, but are not limited to, water lines, sewer service, fire hazards, repairs to exterior steps, railings, retaining walls, water seepage into basement, structural problems, or replacement of a furnace or hot water heater.
Repairs that remedy code violations and those needed to address home repairs before they significantly de-value the home and become much more serious problems, are also eligible.
Only one bid is required for projects equal to or less than $15,000. All other projects must have at least 2 bids.
Eligible repairs will be determined through an inspection and/or analysis of the condition of the property. A CEE representative will conduct the analysis to determine the project eligibility.

The current terms and conditions stated, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

https://www.mncee.org/find-financing-incentives/audubon-park-emergency-deferred-loan/

Audubon Park: Exterior and Energy Deferred Loan Program

The Audubon Park Neighborhood has made NRP dollars available that have been designated to help property owners make necessary repairs and improvements. The intent of these Programs is to encourage investment in the neighborhood by improving the housing stock. Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Loan Terms

0% APR
Minimum of $500 to a maximum of $7,500 loan amounts
Loan is forgiven after 10 years, if the property is still owned and occupied
Income limits apply
This loan is secured by a mortgage on your property
Closing costs apply

Property Eligibility

Owner occupied 1-4 unit residential properties located within the boundaries of the Audubon Park Neighborhood.
Individual condo and townhome owners and properties held in a trust are eligible.

Types of Improvements

Permanent exterior and energy related improvements are eligible.
Only one bid is required for projects equal to or less than $15,000. All other projects must have at least 2 bids.

The current terms and conditions stated, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

https://www.mncee.org/find-financing-incentives/audubon-park-energy-deferred/

Audubon Park: Home Improvement Loan Program

The Audubon Park Neighborhood has made NRP dollars available that have been designated to help property owners make necessary repairs and improvements. The intent of these Programs is to encourage investment in the neighborhood by improving the housing stock. Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Loan Terms

1% APR
Minimum of $1,000 to a maximum of $15,000 loan amounts
Loan terms up to 10 years
No income limit.
This loan is secured by a mortgage on your property
Closing costs apply

Property Eligibility

Owner occupied 1-4 unit residential properties located within the boundaries of the Audubon Park Neighborhood.
Individual condo and townhome owners and properties held in a trust are eligible.

Types of Improvements

Most permanent interior and exterior improvements are eligible.
Only one bid is required for projects equal to or less than $15,000. All other projects must have at least 2 bids.

The current terms and conditions stated, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

https://www.mncee.org/find-financing-incentives/audubon-park-home-improvement/

Audubon Park: Purchase Assistance Deferred Loan Program

The Audubon Park Neighborhood has made NRP dollars available that have been designated to help property owners make necessary repairs and improvements. The intent of these Programs is to encourage investment in the neighborhood by improving the housing stock. Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Loan Terms

0% APR
Maximum of $5,000
Loan is forgiven after 10 years, if the property is still owned and occupied
No income limit
This loan is secured by a mortgage on your property
Closing costs apply

Property Eligibility

Owner occupied 1-4 unit residential properties located within the boundaries of the Audubon Park Neighborhood.
Individual condo and townhome owners and properties held in a trust are eligible.
Eligible homebuyer(s) MUST attend a Home Stretch workshop or other valid homebuyers course offered through an approved counseling agency by the US Department of Housing and Urban Development.
Eligible borrowers must provide evidence of legal U.S. residence prior to closing.

Types of Improvements

These funds may only be used for down-payment or closing cost related to the purchase of the subject property.

The current terms and conditions stated, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

https://www.mncee.org/find-financing-incentives/audubon-park-purchase-assistance/