The South St. Paul Economic Development Authority offers loan funds to homeowners for property improvements. The Center for Energy and Environment administers the South St. Paul Loan Programs, securing the most beneficial financing based on the borrower’s needs, independent of the funding source.
Loan Features
- Fixed 3.875% interest rate
- Loan term up to 15 years
- Loan repayment required upon sale, transfer of ownership, cash-out refinance, or if the borrower no longer occupies the property as their primary residence
- Maximum loan amount: $25,000
- Income limit: 120% AMI based on family size
Eligible Projects
Most permanent exterior or interior projects qualify, including but not limited to:
- Roofing and siding
- Windows and doors
- Insulation
- Solar installation
- HVAC upgrades
- Electrical and plumbing work
- Garage replacement or new construction
- Interior remodeling
- Driveways, sidewalks, and steps
- Fencing and permanent landscaping
Eligibility Requirements
Applicants must:
- Own and occupy a property with 1-4 dwelling units (including townhomes and condos)
- Be a legal resident of the United States
- Meet the credit requirements outlined in the program details