The Rehabilitation Loan Program is out of funds for this cycle. Effective today, March 28, Minnesota Housing will no longer accept new Fund Reservations for the Rehabilitation Loan Program. The next funding cycle is scheduled to begin on October 1, 2014.
As a reminder, Lenders have 12 weeks from the approval date of a Fund Reservation to convert a file to a Loan Commitment. Given the Fund Reservation process was instituted this year, Minnesota Housing will make extension requests for Fund Reservations on a case-by-case basis.
Limited funds are still available for emergency issues through the Emergency Loan Program. The balance of these funds is available on our
website. If you have questions regarding the Emergency Loan Program, please contact
Remember: Applicant tracking reports are due at the end of March. Please continue to track your applicants and outcomes and report them to Minnesota Housing. We use the applicant tracking information to gauge and monitor program demand.