The CDA’s Home Improvement Loan Program assists low- and moderate-income homeowners with making repairs and improvements to their homes, such as roof replacements, furnace replacements, electrical and plumbing repairs, and more.
Features of this loan include:
- Zero Percent Interest
- No monthly payment
- Repayable when ownership changes or you move from the property. You may be required to repay the loan if you refinance your home or take out a home equity loan.
- $15,000 loan minimum; $25,000 loan limit
Common projects include:
- Furnace replacement
- Electrical and plumbing repairs
- Insulation
- Improvements for special needs, such as ramps, bathroom or kitchen modifications
Do I qualify?
Eligible applicants must:
- Own their home
- Have sufficient equity in the property
- Have a satisfactory credit history
- Have a gross annual income with the program income limits (listed below).
If you have questions about this home improvement loan, you can contact the Housing Rehab Coordinator at 651-675-4465.
To learn more about or apply for this loan, please visit the Dakota County CDA’s Home Improvement Loan Page.