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Coon Rapids Two-Family Home Rehabilitation Program Page 1 of 2 Contact Us l News Soarch ti Sign Up for Our Newsletter ry Ce ".er'ror Energy an nvirorirnen Home!Find Programs/Coon Rapids:Two-Family Home Rehabilitation Program :0 SHARE Coon Rapids: Two-Family Home Rehabilitation Program The City of Coon Rapids,together with the Coon Rapids Mortgage Assistance Next Steps Foundation,currently offers low-interest home improvement financing and remodeling advisor services to Coon Rapids residents. This fund is intended to provide funding to property owners of two-family homes to undertake maintenance and rehabilitation Apply For This Program projects at the same time as the adjoining tenant to ensure that the exteriors of both Download the Application units remain compatible. Loan Terms Send In Your Completed Application • Minimum loan amount:$2,500 Fax It To • Maximum loan amount:$30,000 • No maximum income limit 612-335-2050 • Interest rate:.5%-4.5%,depending on income. Call 612.335.5884 for more information. Email It To: • Additional terms,conditions and closing costs may apply and are subject to change without loaninfmncee.org notice.Financing is secured by a mortgage on the property. Mail It To: Installment Loans Center for Energy and Environment 212 Third Avenue N,Suite 560 Borrowers with incomes above 50%of AMI will be offered low interest(1.5-4.5%)monthly Minneapolis,MN 55401 installment financing.Loans will be available from$2,500 to$30,000 with typical repayment terms equal to one year per thousand dollars borrowed up to a maximum of 25 years.Loans will be For Questions About This program structured to make them affordable for the borrower. Deferred Loan Terms KK Borrowers with annual household incomes 50%or less of AMI have the option of borrowing funds on a regular monthly installment or on a Deferred basis.The deferred option offers the borrower to defer payment of principle and interest until the loan matures or the property is transferred or sold, whichever is first.Loans will be available from$2,500 to$30,000 for a 40 year teen. Brenda Yaritz Senior Loan Officer Eligible Properties byaritztmncee.org • Owner or renter occupied two-family structures. 612-335-5891 or 1-855-296-5626(LOAN) • Structures must be located within the City of Coon Rapids. Property Value Limit The maximum assessed value of a property participating in this program may not exceed $169,000 as determined by the City Assessor as identified on your annual Anoka County Property Tax Statement. Eligible Improvements Eligible improvements are limited to permanent general improvements to the exterior of the units. Funds must first be used to abate any outstanding order from the City's Inspection Division. Applicants are required to submit one bid for each project under$5,000 and two bids for each project in excess of$5,000. Proof of Income • If you are employed:submit copies of your two most recent paystubs. • If you are retired:submit a copy of your social security benefits or pension. • If you are self-employed:submit copies of your Federal Tax Returns for the last 2 years. Contractors http://mncee.org/Find-Programs/Coon-Rapids--Two-Family-Home-Rehabilitation-Progra/ 5/15/2013