RUSHFORD, MINN. – Semcac’s Housing Department is administering two home renovation loan programs for homeowners in the City of Rushford. The Rushford EDA has provided funding for owner occupied house improvements along with funding from Minnesota Housing Finance Agency. Eligible city residents can apply for financing to complete improvements to their home so they are more energy efficient, accessible, and/or safer/healthier to live in. Both financing options are deferred loans with repayment due when the home is no longer their principal place of residence, when the home is sold, or at the end of a 30-year term, whichever occurs first.
Both loan programs can help a homeowner with funding for a new roof, windows, siding, driveway, or to install a radon mitigation system, add more insulation, update electrical wiring, replace of a water heater/furnace and/or central air conditioning, or to make accessibility modifications, etc.
Annual projected gross income limits for the EDA funded program is set at or below 100% of Fillmore County Area’s Median Income per household size. Please call for income limits.
The MN Housing Impact Fund program’s annual projected gross income limit is $93,100 or less.
For more information on either loan, please contact Cindy with the Housing Department at Semcac, (507) 864-8207 or cindy.vitse@semcac.org.