Home improvement loan programs

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This summer, Nokomis East Neighborhood Association (NENA) launched a new housing rehabilitation loan program.  Owners of 1 to 4 unit residences can apply for up to $15,000 to make improvements to their properties.  Owner-occupants and investors may apply. The interest rate is either 2% or 3% depending on income.  No income restriction applies. For more information or to request an application, call the Greater Metropolitan Housing Corporation’s Housing Resource Center 612-722-7141. Or, visit www.gmhchousing.org.  Loan applications are processed on a first-come-first-served basis.

A limited amount of funds are also available for emergency repairs.  Only owner-occupied households are eligible.  Income restrictions apply.  The maximum loan amount is $7,500.  The loan is 0% interest, and there are no monthly payments.  The loan is due in total on the sale of the property or transfer of title.  If you have an emergency, contact the Housing Resource Center at 612-722-7141.

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