MHFA Rehabilitation Loan Program


The Minnesota Housing Finance Agency's (MHFA) Rehabilitation Loan program assists low to moderate-income homeowners in financing home improvements that directly affect the safety, habitability, energy efficiency and accessibility of their homes.

Eligible applicants must occupy the home to be rehabilitated. Applicants' assets must not exceed $25,000. The income limit for 2010 is $58,500 (80% of Statewide median not adjusted for family size).

The maximum loan amount is $15,000 with a 30-year term. Loan payment is deferred until the borrower sells or otherwise transfers title to the home, no longer lives in the property, or at the end of 30 years.

Single-family homes, duplexes and manufactured housing taxed as real or personal property are eligible for this program.

Most improvements to the livability, accessibility, or energy efficiency of a home are eligible. Electrical wiring, a new roof, plumbing and septic repairs are just some of the possibilities.

There is a waiting list for the loans and Funds are usually provided once during a 22 month funding cycle. The OCHRA receives about $150,000 of funding during this period which rehabilitates about 10 homes.

To learn more about the program and obtain an application call or email the Olmsted County HRA

Phone: 507 328-7150

Olmsted County HRA Email