Fix-Up Loan (Minnesota)
Last modified on January 5, 2015.
Financial Incentive Program
|Incentive Type||State Loan Program|
|Applicable Sector||Residential, Multi-Family Residential, Low-Income Residential|
|Eligible Technologies||Water Heaters, Furnaces, Boilers, Central Air conditioners, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Comprehensive Measures/Whole Building, Solar Thermal Electric, Photovoltaics, Wind, Other Distributed Generation Technologies|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount||2,000 - 50,000|
|Funding Source||Fix-Up Fund|
|Maximum Incentive|| 35,000 (see exceptions below)|
Unsecured loans: 15,000
|Terms|| Property must be owner-occupied|
Loan repayment terms between 10 and 20 years
|Program Administrator||Minnesota Housing Finance Agency|
The Minnesota Housing Finance Agency's (MHFA) Fix-up Loan provides low-interest financing for energy conservation and other basic improvements to residential properties. Home improvement loans range between $2,000 and $50,000 based on which energy efficient and renewable energy technologies are implemented. A higher loan amount may be available for improvements that enhance the accessibility of the home for a disable family member. Unsecured loans are available for up to $15,000. To be eligible for the loan, the home must be occupied by the property owner. Additionally, total family income must be at or below $96,500, unless improvements are for the enhanced accessibility of the home.
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.
|Department||Minnesota Housing Finance Agency|
|Division||Home Improvement Loans|
|Address||400 Sibley Street, #300|
|Place||St. Paul, Minnesota|
|Phone 2||(800) 657-3769|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.