Owner-Occupied Deferred Home Repair Loans SEMMCHRA, through the State of Minnesota's Small Cities Development Program, has established a deferred loan program in cities throughout our service area. The purpose of this program is to assist moderate-income households by improving the quality of their living environment through the repair and renovation of their home. A deferred loan does not have to be repaid unless the owner sells, transfers title or moves from the property within 10 years. Rental Rehabilitation Deferred Loan (RRDL) Program provides zero interest deferred loans of up to $300,000 for property improvements for aging properties Borrower eligibility: - Individuals, developers, non-profits, unit of government, and tribal housing corporations - Meet minimum credit worthiness guidelines Property and improvement/renovation project must meet eligibility requirements: - Renovations or repairs to an existing structure which materially preserve or improve the basic livability, safety, or utility of the property. Improvements include: - Roofs - Boilers and mechanical systems - Energy and water saving improvements