Home Improvement Program
Spring is here! It is time to start your home improvement projects!
Hard at work, our East Harriet Neighborhood Association (EHFNA) has made Neighborhood Revitalization Program (NRP) funds available to property owners of the East Harriet Farmstead neighborhood to make improvements to their properties. The current EHFNA Home Improvement Program offers low interest loans to both owner occupied and non-owner occupied residential properties.
Eligible improvements include any permanent home improvement whether interior or exterior. Decks, porches, retaining walls, fences, and garages can be repaired, replaced or built as new construction.
Let us help you find the right loan with great low rates. For more information on the program guidelines, visit East Harriet Home Improvement Loan Program. Please feel free to call 612.824.9350 or contact us at firstname.lastname@example.org with any questions.
Home Improvement Loans
EHFNA offers low-interest (2% and 4%) home improvement loans to qualified neighbors. The intent of this program is to assure the long-term future and value of the housing stock in our neighborhood. Upon repayment, the money loaned is reinvested in the program to create a perpetually revolving loan fund.
Who is eligible?
Anyone with income less than 150% of the Twin Cities' median household income (see chart below). Income will be considered as the Adjusted Gross Income from an applicant's most recent Federal Tax Return. If you're uncertain about your qualifications, we encourage you to write or call our office for clarification.
Exception - There is no income cap on green improvements. Contact the CEE to find out what projects qualify as a green improvement.
2% fixed interest rate
(up to 80% median) income must be less than:
Family Size of 1: $47,040
Family Size of 2: $53,760
Family Size of 3: $60,480
Family Size of 4: $67,200
Family Size of 5: $72,640
Family Size of 6: $78,000
Family Size of 7: $83,360
Family Size of 8+: $88,720
4% fixed interest rate
(80%-150% of median), income
Family Size of 1: $47,040 - $88,200
Family Size of 2: $53,760 - $100,800
Family Size of 3: $60,480 - $113,400
Family Size of 4: $67,200 – $126,000
Family Size of 5: $72,640 – $136,200
Family Size of 6: $78,000 – $146,250
Family Size of 7: $83,360 - $156,300
Family Size of 8+: $88,720 - $166,350
What kinds of properties are eligible?
Properties must be located within the East Harriet Farmstead geographical boundaries (see map) Rental properties, such as a duplex, cannot exceed two units. Condominiums are eligible under the same guidelines as single-family homes. Loans to condominiums are limited to the individual owners, not an owners' association. Rental properties must be licensed by the city.
How much can I borrow?
The minimum loan size is $2,000, with a maximum of $20,000. Generally, repayment terms are one year per $1,000 borrowed. This is somewhat flexible depending on the size of the loan. For most cases, the maximum term will be 10 years.
There is no income cap on green improvement loans and the maximum loan size is $10,000. Contact the CEE to find out what projects qualify as a green improvement.
How do I apply?
Download detailed guidelines here and please feel free to call our office with any questions: 612-824-9350:
East Harriet Home Improvement Loan Program
Home improvement loans are administered by the Center for Energy and Environment (CEE). To download the application or learn more you may visit the East Harriet page on the CEE website.