SNG Home Improvement Loan Program

HOME IMPROVEMENT AND ENERGY LOANS

Available for Owner-Occupied and Rental Property

The Seward Neighborhood Group (SNG) has allocated NRP Phase II funding for home improvements within the Seward neighborhood. At 0% – 5.75% the program offers low rates with flexible terms. SNG has contracted with the Center for Energy and Environment (CEE), a locally based non-profit to administer the neighborhood's home improvement loan programs.

SNG Revolving Loan Program

• Eligible applicants include owner occupants and rental property owners of 1-4 unit buildings.
• 2.50% fixed interest rate
• $12,000 maximum
• Flexible terms up to 10 years
• Eligible improvements include exterior, energy, mechanical and electrical improvements
• No income limits

SNG Interest Reduction Loan Program

• Seward residents taking out Community Fix-up Fund loans will have their interest rate reduced to 2.50%.
• $20,000 maximum
• Flexible terms up to 15 years.
• Most improvements are eligible including interior remodeling and additions
• Income limit: $96,500

SNG Emergency Deferred Loan Program

• Seward neighborhood who face emergency home repairs and are unable to obtain funds from other sources to repair the problem can borrow up to $5,000.
• The loan will be repaid when the house is sold.

CEE Home Energy Program

• 0%-4.99% fixed interest rate (0% for terms 36 months or less and a CES energy audit)
• $20,000 maximum
• Flexible terms up to 10 years
• Energy related improvements are eligible
• No income limits

Community Energy Services

Seward homeowners are eligible to participate in Community Energy Services (CES), a comprehensive residential energy efficiency program. CES offers homeowners free educational workshops, energy saving materials installed, and customized home energy visits. Participants also gain access to unique financing and rebates for energy efficient upgrades in their homes. For more information please contact Ashley Robertson at (612) 335-5869 or visit www.mnces.org .

If you would like additional information or have questions, contact Doug Wise, SNG Housing Coordinator, at (612) 338-6205, ext. 102 or doug@sng.org.

Doug is available to provide free advice on your home improvement project and assist with obtaining financing and hiring a contractor.

For a fact sheet on selecting a contractor, click here.

For a fact sheet on construction contracts, click here.