Update your home
Do you want to improve the energy efficiency of your home or fix outdated heating or plumbing? Bloomington HRA home rehabilitation loans could provide the help you need to get the job done.
Loans of up to $35,000 are available to Bloomington homeowners who are looking to make repairs to their homes to meet health or safety requirements such as code repairs for electrical, heating and plumbing; lead paint stabilization; energy efficiency improvements and exterior improvements. There are no monthly payments. The loan will accrue interest at an annual rate of two percent for a period of 10 years. The homeowner will not need to repay the loan until they sell, transfer title or the property is no longer the borrower’s principle place of residence.
These loans are offered in an effort to help maintain the condition of housing and neighborhoods in Bloomington. All applications will be processed according to need. Homes built before 1978 will be required to have a lead risk assessment. To fill out an application, visit blm.mn/loans or call 952-563-8937 to request an application be mailed to you.