Housing Rehabilitation Loans available through SEMCAC – Austin Daily Herald

SEMCAC, a Neighborhood Motion Company serving southeastern Minnesota, has funds accessible by means of Minnesota Housing for housing rehabilitation loans for eligible owners in Dodge, Fillmore, Freeborn, Goodhue, Houston, Mower, Rice, Steele, Wabasha and Winona counties.

This mortgage is a zero p.c rate of interest mortgage (no month-to-month funds) with a 15-year time period or a 10-year time period for cell/manufactured houses in a cell residence park. Should you meet the next necessities, you might be eligible to borrow as much as $27,000 to finish enhancements and/or accessibility must your property:

• Will need to have owned and occupied the property as principal place of residence for the previous six months;

• Present together with your property taxes;

• Present together with your mortgage funds;

• Have lower than $25,000 in belongings;

• Have whole gross family revenue throughout the revenue limits, which is 30 p.c of Minneapolis/St. Paul.

Properties in a Reverse Mortgage, Belief or in a Cooperative aren’t eligible

For extra data, please contact Cindy at SEMCAC, PO Field 549, Rushford, MN 55971, direct line 507 864-8207 or e-mail cindy.vitse@semcac.org.  All candidates are protected beneath the Knowledge Privateness Act.

— to www.austindailyherald.com

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