The non-profit Semcac, a community action agency in southeastern Minnesota, has funding available to loan to eligible residents for rehabilitating their homes, including manufactured homes (MH). The 0 percent interest loans have a 15-year term—ten-year for MH, providing it is in an MHC, as southernminn tells MHProNews, all funded through the Minnesota Housing Agency.
Semcac has begun advancing this loan program in Goodhue, Rice and Wabasha Counties, but it will also be available in Dodge, Fillmore, Freeborn, Houston, Steele and Winona Counties, as well as in the city of Austin.
Residents who meet certain criteria will be eligible for loans up to $27,000. Qualifications include less than $25k in assets, be current on insurance, taxes and mortgage, and have owned and occupied the property as the principal residence for the past six months. The home must have either been weatherized or on a waiting list to be weatherized. ##
(Photo credit: peninsuladailynews/Jeremy Schwartz–Dan Davis, left and Tom Duce work on a manufactured home.)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.