MHP Loan Funds

Building A HouseMHP offers two revolving loan funds for expenses incurred during the creation and preservation of affordable housing.

Affordable Housing Loans

These flexible funds are available for activities related to affordable housing.

Eligible activities include:

  • Rehab loan programs
  • Entry cost assistance loan programs
  • Other housing loan programs
  • Construction Financing
  • Gap financing

If funds are used for pre-development activities, the following applies:

Successful applications will convey a high likelihood that the proposed activities will result in permanent affordable housing construction or preservation within 2 years of the application.

Eligible activities include:

  • Market feasibility studies
  • Site analysis
  • Site design
  • Securing zoning compliance
  • Preparing funding applications
  • Monitoring construction process
  • Legal fees

Eligibility & Funding Criteria

  • Applicants must be a nonprofit borrower within the State of Minnesota (limited partnership with for profit developers is acceptable) or a MHP partner if located outside of Minnesota.
  • Affordable Housing Loan: Maximum request of $300,000 will be considered
  • Pre-development Loan: Maximum request of $75,000 will be considered

See the program guidelines for more information on eligibility and funding criteria.

Downloadable Program Guidelines & Application Forms

For more information, contact:

Cynthia Paulson, Housing Programs Officer at 651.925.5557 or  This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

2014 Loan and Grant Calendar*

 
Application Due Dates Loan and Grant
Committee Meetings
August 26, 2013 September 16, 2013
October 28, 2013 November 18, 2013
December 23, 2013 January 13, 2014
February 24, 2014 March 17, 2014
April 28, 2014 May 19, 2014
June 30, 2014 July 21, 2014
August 25, 2014 September 15, 2014

 

The MHP Loan and Grant Committee meets the third Monday of every other month to review applications.  Applications must be received a minimum of three weeks prior to a meeting in order to be considered for funding.

*These dates are tentative and may change without notice.

(Please note that Minnesota Housing Partnership does NOT offer funds to individuals. See Looking for Housing for information about assistance for individuals.)