Minneapolis, City of Lakes, is the ultimate playground for the young, active and trendy crowd. Its beautiful condos and lofts overlook the cityscape while homes in peaceful neighborhoods provide great access to world-renowned arts, entertainment and nightlife. You can be a part of if all – CityLiving offers the mortgage and home improvement loans below.

Minneapolis Mortgage Loans
CityLiving loans offer homebuyers an opportunity to purchase Minneapolis homes at an interest rate that historically has ranked well below market rates. The City sells tax-exempt mortgage revenue bonds, making the funds available to private lenders for low-interest mortgages.

Code Abatement Loans
The City of Minneapolis offers interest-free loans for code abatements for households that are within 50 percent of the median income for this metropolitan area. The maximum loan amount is $20,000. The loan is repaid at the time the house is sold. Contact the Greater Metropolitan Housing Corporation at 612-378-7985.

Home Repair Loans
The City offers amortizing loans at 1 percent interest for home repairs. The maximum term is 20 years, and the maximum loan is $25,000. The maximum income to qualify for this loan is 80 percent of the median income for the metropolitan area. This loan can only be used to complete code repairs. Contact the Greater Metropolitan Housing Corporation at 612-378-7985.

Homebuyer Education Workshops
Homebuyer Education Workshops are offered at a low cost through the Home Ownership Center. The workshops provide first-time homebuyers comprehensive information to prepare them for home ownership. The workshops are offered in English, Spanish, Hmong and Cambodian. Bilingual counselors or interpreters are also available for other languages.

Minnesota Home Ownership Center
651-659-9336
hocmn.org

• You must live in the home.
• Property must be one to four units in Saint Paul or Minneapolis city limits.
• Most lenders provide pre-qualifications that include a credit report, for little or no fee.
• Income and purchase price limits apply.
• Home Buyer counseling is required.

• You can refinance your mortgage or contract for deed and make major repairs and improvements if the property is at least 20 years old.
• Minimum rehab requirements apply.
• All work must be completed by a licensed contractor.