- No maximum income limit
- Loan amounts from $2,000 to $10,000
- 4% fixed interest rate (4.022% Annual Percentage Rate)*
- This loan is secured by a mortgage on your property
- Owner occupied and absentee owned properties
- Properties under construction or held in Trust are not eligible
Types of Improvements
- Eligible improvements include energy related improvements and most exterior improvements to address code violations, security and safety issues, general maintenance; and improvements for the public benefit.
- For do-it-yourself projects, a materials list including prices is required. The cost for labor and equipment purchase or rental may not be included in the loan.
2 bids are required from a qualified, licensed contractor if the project is over $5,000.
Funds are held in a non-interest bearing escrow account at CEE from loan closing until the work is completed and all final documentation is received.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).
*APR based on a $10,000 loan for 10 years.