Richfield, MN

*2023 Application Update (9/1/23)*
A limited amount of funds are available. If you have a project you are ready to start now, contact a Housing Specialist at 612-861-9778 or HouseSpecialist@richfieldmn.gov 

Forgivable Interest-Free Loans for Large Remodeling Projects

The Transformation Home Loan program offers homeowners a financial incentive to help pay for large remodeling projects (valued at $50,000+). 

• Borrow 15% of the project cost, with a maximum loan limit of $25,000
• No income limits, no payments, no interest
• For owner-occupied, single family homes
• The loan is due upon sale of the home or is forgiven after 30 years

See Slideshow of Transformation Home Loan Projects Here

TO APPLY:

• Transformation Loan Application- 2023
• Program Guidelines

Questions about the loan or application process can be directed to the Housing Specialists at HouseSpecialist@richfieldmn.gov or (612) 861-9778