 Reminder: Fix Up Loan Program Changes Coming May 1
Minnesota Housing is making changes to our Fix Up Loan Program (Fix Up) in order to:
- Maintain and strengthen our ability to reach mission-targeted borrowers,
- Align our programs to available resources that are lower than recent years due to the slower pace of repayment and prepayment of loan capital and the level of our state-appropriated funds, and
- Avoid stopping and starting our programs, so our programs will continue to be a reliable source of funds.
Fix Up will continue to preserve and improve housing, promote energy-efficiency, and support integrated and age-friendly communities in Minnesota. Available resources will be targeted to borrowers with the greatest needs.
We value your continued partnership. Together we will continue to make home repairs and improvements possible for more Minnesotans.
The changes outlined below are effective for loans locked in the Minnesota Housing commitment system on or after May 1, 2025.
Fix Up secured and unsecured loans:
- The income limits for Fix Up secured and unsecured loans will be reduced from 150% Area Median Income (AMI) to 130% AMI.
Fix Up secured and unsecured income limits (effective for loans locked on or after May 1, 2025.)
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11-County Twin Cities Metro Area
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Dodge and Olmsted Counties
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All Other Counties
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Income Limits
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$161,500
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$161,500
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$145,300
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The 11-County Twin Cities Metro Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington, and Wright counties.
Energy Incentive Loans
- Energy Incentive Loans will now have an income limit of 130% AMI.
Energy Incentive secured and unsecured income limits (effective for loans locked on or after May 1, 2025.)
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11-County Twin Cities Metro Area
|
Dodge and Olmsted Counties
|
All Other Counties
|
|
Income Limits
|
$161,500
|
$161,500
|
$145,300
|
The 11-County Twin Cities Metro Area is defined as: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington, and Wright counties.
Income limits for Energy Loan Plus will remain at 80% AMI.
Accessory Dwelling Unit (ADU)
- The construction or rehabilitation of a detached Accessory Dwelling Unit (ADU) will be eligible under Fix Up. Internal and attached ADUs are already eligible.
Updated eSignature Policy
In addition to the program changes mentioned above, the updated Fix Up Procedural Manual will contain a revised eSignature policy as well as a new Legal Addendum (Appendix in the manual).
Effective May 1, 2025:
Minnesota Housing accepts documents that are signed electronically. Under no circumstances may a borrower or co-signer be required to sign a document electronically. Electronically signed documents must follow all requirements set forth by state and federal law.
Fix Up Rate Changes May 1
The next monthly rate review and adjustment takes place on Thursday, May 1. It is essential that lenders lock loans in their pipeline to get the current rate.
As a reminder, our Energy Incentive Loan rate for both unsecured and secured loans are also reviewed monthly and may be adjusted at that time. Energy Loan Plus loan interest rates will not change. Please visit the Home Improvement Interest Rates webpage for a list of current rates.
Fix Up Lender Connect
Join us for quarterly Fix Up Lender Connect calls where we focus on answering questions about Fix Up and reviewing pertinent program topics.
Please email Kirsten Partenheimer with any topics or questions for the next check-in.
Register for the Fix Up Lender Connect calls.
When you register, you will be signed up for all sessions in the series but can attend the sessions that work for you. Calls occur quarterly on the third Wednesday of the month at 9 a.m. Central time. Calls generally last 10-30 minutes depending on topics and conversation.
2025 Schedule:
- Wednesday, July 16
- Wednesday, October 15
Questions?
You can reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 8 a.m. and 5 p.m. on business days.
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2024, we distributed $1.96 billion in resources and served 73,650 households. Visit our website to learn more.
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