Housing Assistance for Homeowners

The purpose of the Watonwan County Affordable Housing Aid Program is to help households perform home repairs that would normally be a financial burden. Income eligible homeowners can receive a forgivable loan up to $10,000 to help finance home repairs. The funding for this program was received through the Statewide Affordable Housing Aid Program. The program is available for any single-family residential homes within Watonwan County.

Access the policy and application.

Any questions? Contact:

Brianna Sanders
Western Watonwan County EDA Director
St. James City Hall
507-375-1289
brianna.sanders@ci.stjames.mn.u

Start Up Program: Provides loans for purchase of home for first-time home buyers

Step Up Program: Provides loans for purchase of home for individuals who are not first-time home buyers or who exceed the home purchase price or income limits of the Start Up Program.

Fix Up Home Improvement Loan Program: Provides loans from $2,000-$75,000 at affordable, fixed rates over longer repayment terms to cover necessary repairs or desired updates

Rehabilitation Loan Program and Emergency & Accessibility Loan Program (RLP/ELP): Provides up to $37,500 in forgivable loans to low-interest homeowners, including owners of manufactured housing taxed as real or personal property, to finance projects that directly affect the safety, habitability, energy efficiency or accessibility of their homes

Find a lender here to learn more about each of the programs

Single Family Housing Guaranteed Loan Program: Assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers – so no money down for those who qualify! Check out the list of approved lenders here.

Single Family Housing Direct Home Loans: Assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Loan funds may be used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. Check out the Single Family Housing Direct Self-Assessment Tool to see if you could benefit today. Applications are made directly to the USDA through a local housing loan specialist.

Single Family Housing Repair Loans & Grants: Provides loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards. Grants are available up to $10,000 and loans are available up to $40,000 at a fixed 1% interest rate over 20 years. Applications are made directly to the USDA through a local housing loan specialist.

Fix-Up Loan Program: MVAC offers up to $75k in affordable, fixed rate home improvement loans to qualifying households. This program is funded by the Minnesota Housing Finance Agency. Check out their loan fact sheet and application on their website.

Rehabilitation Loan / Emergency & Accessbility Programs (RLP/ELP): MVAC is an approved lender for the Minnesota Housing RLP/ELP program. This program provides up to $37,500 in forgivable loans to low-interest homeowners, including owners of manufactured housing taxed as real or personal property, to finance projects that directly affect the safety, habitability, energy efficiency or accessibility of their homes

We Care Repair: Provides up to $5k in loans at a fixed interest rate for qualifying individuals to finance repair projects that do not qualify under another program. Contact Judd Schultz at 507-345-2401 to learn more.