Home Improvement Programs

The Roseville Economic Development Authority offers the following programs for home improvement financing: 

Last Resort/Emergency Deferred Loan Program

This program provides up to $10,000 in an emergency to repair issues that make a home uninhabitable, dangerous, or are contributing to severe health problems.  This loan has a 0% interest rate and is deferred, with repayment occurring at the time of future sale.

Interest Rate: 0%
Loan Amount: $500 - $10,000
Loan Term: Repaid when borrower sells, transfers ownership, or no longer occupies property as primary residence.
Eligible Properties: 1-4 unit owner occupied properties, including condos, townhomes, mobile homes
Income Limits: Yes
Eligible Improvements: Including but not limited to: water lines, sewer service, fire hazards, repair to exterior steps, railings, retaining walls, water in basement, structural problems, furnace/water heater replacement.

Manufactured Home Improvement Program

This provides up to $10,000 for interior or exterior improvements to manufactured homes. The loan is repaid over 10 years at a 4% interest rate.

Interest Rate: 4%
Loan Amount: $500 - $10,000
Loan Term: Up to 10 years
Eligible Properties: Residential mobile homes
Income Limits: No
Eligible Improvements: Most interior and exterior improvements

Roseville Home Improvement Loan

Loans of up to $40,000 for interior or exterior improvements for single family homes and interior improvements for condominium and townhomes. The loan is repaid over 10 years at a 3% interest rate.

Interest Rate: 3%
Loan Amount: $10,000 - $40,000
Loan Term: Up to 10 years
Eligible Properties: 1-4 unit owner occupied properties, including condos, townhomes, mobile homes. Properties must be at least 25 years old and estimated value cannot exceed $326,590.
Income Limits: No
Eligible Improvements: Property inspection required to determine eligibility. If no code violations or concerns exist, most interior and exterior improvements qualify. Required to schedule a Home Energy Audit prior to closing.

Senior Deferred Loan Program

Provides up to $25,000 for interior and exterior improvements to a home. The loan includes a 0% interest rate, with repayment deferred until the time of future sale.

Interest Rate: 0%
Loan Amount: $5,000 - $25,000
Loan Term: Repaid when borrower sells, transfers ownership, does a cash-out refinance, or no longer occupies property as primary residence.
Eligible Properties: 1-4 unit owner occupied properties, including condos, townhomes, mobile homes. Properties must be at least 25 years old and estimated value cannot exceed $326,590.
Income Limits: No
Eligible Improvements: Most interior and exterior improvements qualify. 

If you are interested in any of these programs, or to obtain additional information, visit the Lending Center or call them 612-335-5884.