Fix-Up Home Improvement Loans United Community Bank

Fix-Up Home Improvement Loans

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United Community Bank partners with Minnesota Housing to provide Fix Up Home Improvement loans.

Make the home improvements, repairs and renovations you want, with the financing you can afford.

Affordable, fixed interest rates (see current rates at www.mnhousing.gov)
Lower rates for eligible energy efficiency and accessibility improvements
Loan amounts from $2,000 to $50,000
Secured and unsecured loan options
Higher loan-to-value ratio (+100%) on secured loans than traditional loan products
Repayment terms up to 20 years
Option to hire a contractor or do the work yourself
No prepayment penalty

You may be eligible for a Fix Up loan if you:

Own and occupy the property to be improved (single-family homes, duplexes, triplexes, and fourplexes are eligible)
Meet our minimum credit score requirements
Meet the eligible income limits (currently higher than area median income—inquire for details)

What improvements can I make?

Here are some examples – ask your lender if your project is eligible.

General home repairs and remodeling

Porches and decks
Bathroom or kitchen remodels
Finishing a basement
Siding and roofing
Mold and radon mitigation
Basic garage, if none exists
Energy efficiency improvements

Heating system and central air conditioning

Windows
Insulation, attic air sealing
Water heater
Accessibility improvements

Ramps

House accessibility modifications
Safety modifications

Which Fix Up loan is right for me?

Income and program requirements subject to change. Please inquire or see www.mnhousing.gov for more information.

Loan Type	Security Type	Maximum Loan Amount	Maximum Repayment Term
Loan Type Secured	Security Type Secured by mortgage lien	Maximum Loan Amount $75,000	Maximum Repayment Term 10-20 years
Loan Type Unsecured	Security Type No equity or mortgage lien required	Maximum Loan Amount $25,000	Maximum Repayment Term 10 years
Loan Type Secured Energy	Security Type Secured by mortgage lien	Maximum Loan Amount $15,000	Maximum Repayment Term 10-20 years
Loan Type Unsecured Energy	Security Type No equity or mortgage lien required	Maximum Loan Amount $15,000	Maximum Repayment Term 10 years
Loan Type Secured Accessibility	Security Type Secured by mortgage lien	Maximum Loan Amount $15,000	Maximum Repayment Term 10-20 years

How do I get started?

Apply online!
Feel free to contact Lisa at 218-346-9771 or Perry at 218-346-9774, or they will reach out to you once receiving your application.
Get Bids. Obtain contractor bids or detailed materials estimates from a building supplier for work
Mission Accomplished! Finish up the paperwork with your lender, make your home improvements, and celebrate your accomplishment.

*This project was made possible by a grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).