Housing Loan Programs - Southwestern Minnesota Opportunity Council

Assists low-income homeowners in financing home improvements that directly affect the safety, habitability, energy efficiency, or accessibility of their homes. Available for home improvements that address emergency conditions of the home or accessibility needs for a household resident with a disability.MHFA Rehabilitation Loan Program:- Applicant must meet income guidelines as set forth by MHFA; the homeowner may be eligible for financing up to $20,000- Applicant must own and occupy the property that is to be improved- Funds are limited, and waiting lists may occur- Loan provides financing for up to $37,500 to make eligible permanent repairs without interest or monthly payments- Loans are forgiven if you do not sell, transfer titles, or cease to occupy the property during the loan term- Maximum loan term is 15 years for properties taxed as real property and 10 years for mobile/manufactured homes taxed as personal property located in a mobile home park- Net value of the applicant's assets must be no greater than $25,000- Property taxes must be current- Residence must be the applicant's principal place of residence- Various property types are eligible including, but not limited to, single-family homes, duplexes, a condominium unit, and manufactured housing taxed as real or personal property- Works with a participating Rehab Loan LenderSmall Cities Development Programs:- Income-based program- Requirements vary depending on the community served

06/17/2026