Update your home
Do you have a leaky roof or an outdated electrical system? HRA Home Rehabilitation loans could help you get the work done.
Loans of up to $35,000 are available to income-qualified Bloomington homeowners who want to repair 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. Homeowners will not need to repay the loan until they sell or transfer title, or the property is no longer their principal place of residence.
Homes built before 1978 will be required to have a Lead Risk Assessment. For an application, visit blm.mn/loans or call 952-563-8937.