Get help to fix your Minneapolis home
When your house needs help and it’s time to hire the pros, NeighborWorks Home Partners is ready to lend a hand with affordable Minneapolis home improvement financing.
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How does it work?
At NeighborWorks Home Partners, we have a variety of home improvement loan programs to help Minneapolis homeowners repair their homes. Our lending staff will help determine your eligibility for our financing. Once the scope of work is determined, we will guide you through getting bids from three contractors and selecting the one who will do the work.
Who qualifies?
Determining what program is best for you will depend on a combination of factors including the location of the house, your household income, what type of repairs are needed, and the value of the home and any mortgage debt.
Generally, homeowner households must meet these guidelines:
- Income at or below 120% of Area Median Income
- Reasonable credit
- The ability to make monthly payments
All home improvement loans are secured mortgages (a lien is filed with the county).
What type of work can be done?
We work with homeowners on a variety of projects: correcting mandatory rehab problems such as roofs, furnaces, and exterior painting; making a home more suitable for a family by adding bedrooms or bathrooms or accessibility modifications; or for some clients, we can assist in aesthetic home improvement projects. Generally, qualifying repairs will be those that improve the safety of the home and the health of the people who live there.
Will I have to make payments?
Our home improvement loans in Minneapolis have monthly payments. The exact terms of your home improvement package will depend on which product you qualify for. Most of our customers qualify for programs where they make an affordable payment at a low interest rate.
How is income calculated?
We look at the income for the household. All residents of the household age 18 and older are considered. We require verification of income via pay stubs, W-2’s, tax returns, and bank statements, and other documentation of income sources. We recommend collecting these documents as soon as possible.
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“NeighborWorks Home Partners made renovating our home very easy. They supported us every step of the way, from helping us brainstorm home improvement ideas, to assisting in the loan process, to arranging for builders to make bids, and finally to monitoring the progress of the improvement. As an added bonus, when our project was finished, NWHP helped us refinance at a lower interest rate. They really do offer a full range of services and supports to homeowners. We’ve used them all. Thanks.” -Andrew
