Welter says, “I knew there were things in the home that needed to be fixed, but I just didn’t seem to have a lot of extra money to fix them. I was going to school, and also working, but I thought I should take the time to look in to these programs being offered.”
Welter was able to qualify for the Zero Interest Home Rehabilitation Deferred Loan from the City of Coon Rapids, offered through a program administered by the HousingResource Center TM. The loan allows low and moderate income residents to borrow up to $24,999 which can be used for home improvements that meet minimum housing standards. The loans are funded through federal Community Development Block Grant dollars. No monthly payments are required and up to 50% of the loan may be forgiven.
With the loan, Welter was able to tackle a long list of repairs.
“This program is worth it! You have this great opportunity and everyone is so nice and helpful to work with. Yes, there is paperwork involved and that takes a bit of time, but it’s worth the time! I’m grateful for the program,” says Welter.
If you are interested in learning more about the Zero Interest Home Rehabilitation Deferred Loan, contact the HousingResource Center TM at 651-486-7401 or visit www.gmhchousing.org