Deferred Loan Program

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Forgivable Loans for Home Maintenance Projects

roofDo you have a home maintenance project that needs to get done to make your home safer or healthier? The Deferred Loan program can help you pay for this necessary work through a loan program that offers several benefits:

  • Loans up to $30,000
  • For owner-occupied, single family homes
  • Income limits apply (see table below)
  • No monthly payments
  • No interest for those at or below 50% AMI
  • 3% interest for those between 50% and 80% AMI
  • The loan is due upon sale of the home or is forgiven after 30 years.

 

 

Contact the Deferred Loan Program team at Hennepin County at (612) 348-9260 for more information.

 

 

 Household Size               

50% AMI                       

 80% AMI                      

        1 person

             $31,650

             $47,600

        2 person

             $36,200

             $54,400

        3 person

             $40,700

             $61,200

        4 person

             $45,200

            $68,000

        5 person

            $48,850

            $73,450

        6 person

           $52,450

            $78,900


Income limits effective as of April 14, 2017.