Housing Resources

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The HousingResource Center is a program of the Greater Metropolitan Housing Corporation. GMHC’s mission is to preserve, improve and increase affordable housing for low and moderate income families, as well as assist communities with housing revitalization.

The HousingResource Center is a community service for homeowners and provides comprehensive free housing services to all residents of participating communities, while also improving the community and its housing stock. The HousingResource Center provides numerous services, including individual, high quality, complete assistance through the purchase, financing, refinancing or construction/renovation process.

What They Do

Program Administration:

The HousingResource Center provides homeowners with numerous home improvement loans including, but not limited to:

•A number of different different NRP (Neighborhood Revitalization Program) loan programs in Minneapolis

•A number of Minnesota Housing Finance Agency (MHFA) Fix Up Fund Loan Program

•Assisting Homeowners through the loan application and disbursement process

•Assisting homeowners in finding the best program to fit their needs including collaborating with other agency programs

Construction Management:

The HousingResource Center provides free construction consultations to residents of participating communities. These services include:

•Information on construction, building codes and permits

•Site visits with homeowners regarding home improvements

•A written scope of work or a list of work for contractors to bid from

•Assistance in reviewing contractor bids, proposals and estimates

•Assisting homeowners during the construction process

Housing Information:

They provide information on a variety of housing related topics. They include:

•Home Maintenance and Safety Topics

•Home Improvement Financing

•First Time Homebuyer Classes

•Limited Rental Information

•Mortgage Foreclosure Prevention Programs

•Energy Assistance Programs

•Purchase and Rehabilitation Mortgages

Assistance is provided at no cost.

 

Low-Interest Revolving Loan

HPDL offers very low interest loans – at 3% – for both single family and owners of multiple unit properties in the neighborhood. Participants’ income cannot exceed 150% of the area median income. Eligible improvements include corrections of housing code violations, energy efficiency improvements, sound insulation improvements, and improvement of the physical condition of the property to enhance livability. Recreational or luxury improvements are not eligible. The term of the loans is 5 years and can range from $500 – 5,000.

Emergency Deferred Loan

What happens to low-income folks whose furnace dies in the middle of winter or whose roof is leaking? This program hopes to address such problems. If the house may be uninhabitable, extremely dangerous or capable of causing severe health problems, and if the resident’s income does not exceed 50% of the area median income, then this program may be able to help. Loans are forgivable if resident stays in home for five years. Maximum loan size is $5,000.

Accessibility Deferred Loan

Residents with a long-term disability and who lack the resources to make accessibility improvements to their homes may apply for this forgivable loan program. Income limit is 110% of the area median income and the minimum loan size is $2,000. The maximum loan is $7,500, but if the resident’s disability was incurred while in the United States Armed Forces, that resident may apply for a loan up to $15,000. Many state and county programs may apply for home accessibility improvements, so residents are encouraged to pursue these sources first or in conjunction with an HPDL loan. Loans are forgivable after 7 years if the resident retains ownership of the property for the duration of that time. Examples of accessibility improvements are: widening doorways, installing automatic door openers, lowering counters, or exterior modifications such as installing ramps and stair lifts.

For more information about these Programs, call the Southside Housing Resource Center at (612) 722-7141.

Affordable Housing and Mortgages for Low-Income earners–http://www.mortgageloan.com/affordable/

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