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Published March 21, 2009, 04:19 PM

Loan program can help fix up rental properties

West Central MN Housing Partnership (WCMHP) and Minnesota Housing have loan funds available through the HOME Rental Rehabilitation Program (HOME).

West Central MN Housing Partnership (WCMHP) and Minnesota Housing have loan funds available through the HOME Rental Rehabilitation Program (HOME).

These funds are for the renovation of rental property in the counties of Becker, Clay, Douglas, Grant, Pope, Stevens, Traverse and Wilkin. HOME funds under $100,000 are available on a match basis with Minnesota Housing providing up to 75 percent of the rehabilitation cost with the remainder of the cost the responsibility of the property owner.

HOME Funds in excess of $100,000 are available as zero interest deferred loans. The maximum loan amount is $14,000 per eligible unit, with a minimum loan amount of $10,000. Rent and income limits apply.

For further details or to find out if your property is eligible, contact WCMHP at 1-800-908-5190, 218-863-1227 or email wcmhp2@loretel.net.

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