Single Family Homes CDBG Loan Program Homeowners may receive a maximum of $25,000 for basic home improvements such as windows, siding, electrical wiring, plumbing, roofing, heating, energy-saving improvements, or improvements to meet the needs of a disabled person. The primary focus of the funds is to be used for health, safety and weatherization issues. The loan is "deferred" meaning that it is interest-free and requires no monthly payments. It is a mortgage that will be filed on the property. Clients need to pay the loan back in full when they sell the property or refinance the property, if it ceases to be the client's primary residence or after 30 years. Homestead Incentive Program To aid in the revitalization of Saint Cloud Core Neighborhoods and help counter the trend of non-owner occupied homes. The Saint Cloud HRA will provide an incentive to qualified buyers who purchase and homestead a Saint Cloud Core Neighborhood property with a deferred loan of $3,000. MHFA Rehab Loan Program Homeowners may receive a maximum of $24,999 for rehab of health, safety, and/or weatherization-related issues if they are within the city limits of Saint Cloud and the home is owner-occupied. The loan is "deferred" meaning that it is interest-free and requires no monthly payments. It is repayable at the time of sale, refinance or ceasing to be the owner's primary residence, or forgiven after 15 years. Multi-Family Homes Rental Rehab Deferred Loan (RRDL) Program Saint Cloud HRA has received RRDL funding for properties within the city limits and is available to eligible properties. RRDL funding is provided to approved owners and properties as a 0% interest deferred loan. Funds can be used to cover the costs of eligible project soft costs and rehabilitation items. Common rehab items include roofing, siding, windows, doors, floor coverings, painting, appliances, plumbing, HVAC and mechanical systems. RRDL funding is only available to properties meeting rent and tenant income limit requirements. In addition, owners of approved projects must agree to maintain rent and income limits for a set compliance period based on the term of the loan. Please note, only completed applications with all required attachments will be accepted.