Home Improvement Loans Made Simple
Fix Up Loan Program
Easy Financing for Your Home Improvement Projects!
Make your home improvement dreams a reality! Sherburne State Bank partners with Minnesota Housing to provide affordable home improvement loans for projects big or small.
Update your homes exterior. Renovate a bathroom or kitchen. Save on your energy bill with new windows. From small projects to big remodels, a Minnesota Housing Fix Up loan will help you achieve your home improvement visions.
No equity? No problem.
Both secured (up to $75,000) and unsecured ( up to $25,000) loan options are available.
It won’t break your monthly budget.
Longer repayment terms for lower monthly payment.
Fix Up is available to more Minnesotans than you may think.
Income limit is based off applicant’s county. Max. Household Income is $185,700 for all metro counties*. $167,100 for all other counties.
No income limits for energy efficiency or accessibility projects.
Program Features
- Loan amounts from $2,000 to $75,000.
- Repayment terms go up to 20 years for lower monthly payments on secured loans.
- Both secured and unsecured loan options available.
- Secured loans allow up to 110% loan to value ( after adding 1/2 of repair/updating costs).
Requirements
- Minimum credit score – can be as low as 620.
- Home MUST be owner occupied.
- Contractor will need to provide itemized bids, or itemized material estimates for proposed work.
Energy Plus loans available! – Limited funds available. Rates as low as 3.50% interest rate** (3.66% APR)**
Applicant income max limits are – $105,900 for all metro counties*. $100,400 for Dodge and Olmstead counties and $93,500 for all other counties.
*11 county metro area includes – Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington, and Wright.
** APR is Annual Percentage Rate. The interest rate of 3.50% is for the Energy Plus Program with MN Housing. APR example is a representative product based on a loan amount of $30,000, 20-year repayment term, monthly principal and interest payments of $173.99, payments do not include taxes and insurance premiums, actual payment obligation will be greater. Subject to credit criteria, other restrictions may apply. This is not a commitment to lend. Offer subject to change without notice. Minimum loan amount $2,000 with a maximum loan amount of $30,000
Fill out a Real Estate Application and contact one of our Mortgage Specialists today.
Tanya Danielson
Executive Vice President
specializing in mortgage lending
763-262-2309
EMAIL
Tanya Danielson has been with Sherburne State Bank since 1989, after working in all the areas of the bank she has found her true passion in mortgage lending. Above all, Tanya is not just here to get you into your new or next home or vehicle; our team at Sherburne State Bank is here for you for all of your banking needs and prides itself on establishing long term relationships.
NMLS # 509843
Michelle Anderson
AVP/Mortgage Loan Officer
763-271-7178
EMAIL
Michelle Anderson has been serving the Monticello and surrounding communities since 1994. She has served in all areas of banking over the years, but realized her true passion of all types of lending and building lifelong relationships with her customers. Michelle and the team at Sherburne State Bank are here for all of your needs.
NMLS #739964
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