Solar & Battery Regulation & Incentive Programs

Fix-Up Loan

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Minnesota
Eligible Storage Technologies:
Solar Thermal Electric, Solar Photovoltaics, Wind (All), Water Heaters, Furnaces, Boilers, Air conditioners, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Comprehensive Measures/Whole Building, Wind (Small), Other Distributed Generation Technologies
Website:
http://www.mnhousing.gov/wcs/Satellite?c=Page&cid=1358904985835&pagename=External%2FPage%2FEXTStandardLayout
Maximum Loan:
$15,000. Applicants may be eligible for higher loan and term amounts depending on income
Loan Term:
Property must be owner-occupied
Loan repayment terms: 10 - 20 years
Interest Rate:
Interest rate of 4.99%
Administrator:
Minnesota Housing Finance Agency
Applicable Sectors:
Residential, Multifamily Residential, Low Income Residential
Last Updated:
06/01/2016
Funding Source
Fix-Up Fund

Summary

The Minnesota Housing Finance Agency's (MHFA) Fix-up Loan provides low-interest financing for energy conservation and other basic improvements to residential properties. A higher loan amount may be available for improvements that enhance the accessibility of the home for a disable family member. Loans are available for up to $15,000. To be eligible for the loan, the home must be occupied by the property owner. 

Another key feature of the MHFA home improvement loan program is the opportunity for homeowners to contract with approved lenders directly. Click here for lenders that serve the Twin Cities 11-County Metropolitan Area and here for lenders that serve the Greater Minnesota area. In addition, participating homeowners may select and hire contractors of their choice.