C O M M U N I T Y R E S O U R C E S
Ulmer Construction has been serving the communities in and around the Minneapolis and St. Paul metro area since 1968. We understand the importance of maintaining a beautiful, functional home, which is why we encourage our customers to browse the Housing Resource Center website for programs that fit the needs of their family. Below we have outlined one of the more popular programs available to households in the communities we serve - please see the Housing Resource Center website for more details and availability on specific programs in your city.
**Ulmer Construction is not affiliated with the Housing Resource Center**
Ramsey County Deferred Loan
As stated on the Housing Resource Center website:
This no interest loan is for owner-occupied, single family properties in suburban Ramsey County. Maximum loan is $15,000 for home improvements necessary to meet minimum housing quality standards. Eligible properties must be at least 15 years old and meet the estimated market value limit of $251,750. Condominium and town-homes are eligible for interior repairs only. The loan is divided into two tiers:
Tier One – Low Income Households: These are households with a gross annual income at or below 50% of the Area Median Income. The loan is forgiven at a rate of 10% per year for 10 years. The loan is completely forgiven if the home is not sold and title is not transferred for 10 years after receiving the loan.
Tier Two – Moderate Income Households: These are households with a gross annual income between 50% and the Section 8 limit of the Area Median Income. Repayment of the entire loan is deferred until the house is sold, title is transferred or in some cases the mortgage is refinanced.
Updated 6/2016: view 2016 income limits
This no interest loan is for owner-occupied, single family properties in suburban Ramsey County. Maximum loan is $15,000 for home improvements necessary to meet minimum housing quality standards. Eligible properties must be at least 15 years old and meet the estimated market value limit of $251,750. Condominium and town-homes are eligible for interior repairs only. The loan is divided into two tiers:
Tier One – Low Income Households: These are households with a gross annual income at or below 50% of the Area Median Income. The loan is forgiven at a rate of 10% per year for 10 years. The loan is completely forgiven if the home is not sold and title is not transferred for 10 years after receiving the loan.
Tier Two – Moderate Income Households: These are households with a gross annual income between 50% and the Section 8 limit of the Area Median Income. Repayment of the entire loan is deferred until the house is sold, title is transferred or in some cases the mortgage is refinanced.
Updated 6/2016: view 2016 income limits
With help from the Housing Resource Center, and Ulmer Construction, improvements to your home are within your reach.
For more information contact the Housing Resource Center – North & East Metro
1170 Lepak Court
Shoreview, MN 55126
Phone: (651) 486-7401
1170 Lepak Court
Shoreview, MN 55126
Phone: (651) 486-7401
