The City of Minnetonka offers low-interest home improvement financing for Minnetonka residents.

Loan terms

• Income and asset limits apply
• Up to $15,000 for home repair, efficiency improvements and some additions
• 10-year loan term, three percent interest rate (3.211 percent APR)*
• The loan is secured by a mortgage on the applicant’s property
• Closing costs apply

Property eligibility

• Single-family, owner-occupied properties
• Town homes and condominiums (subject to association bylaws)
• Maximum home value of $515,200 (based upon estimated market value)
• Property must be homesteaded or held in a contract for deed

Income limit

(Updated October 2023)

Types of improvements

• Eligible improvements: exterior repairs, painting, major mechanical projects and high efficiency energy improvements
• Driveways, sidewalks and steps (requires city review and approval)
• Windows and doors (Energy Star)
• Insulation
• Solar
• High efficiency HVAC

More information

For more information or to apply, visit the Center for Energy and Environment or call 612-335-5884.

The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

* APR is based on a $15,000 loan over 10 years.

The Housing Rehabilitation Program offers a forgivable loan up to $15,000 for eligible home repairs for low- and moderate-income households. The program is administered by Hennepin County.

Please Note: Due to limited funding and high demand, there is an extensive waitlist to receive funds through this program. Please reach out to city staff for alternative options if your project requires urgency. 

Loan details

• No monthly payments
• Loans are forgiven if you remain in the home for 10 years
• Loans must be repaid (with no interest) if the homeowner transfers title, sells the home or no longer lives there.
• Eligible repairs include: plumbing, electrical, painting, windows, doors, siding, roof replacement, accessibility improvements, flooring and other repairs that address health, safety and maintenance concerns
• Non-eligible repairs include items like landscaping, additions, hot tubs, pools and demolition.
• Applicants will be placed on a waiting list and notified when funds are available.
• Though Hennepin County advertises loans up to $30,000, Minnetonka's limit is capped at $15,000.

Income requirements

This funding is intended for low- and moderate-income households. To qualify for assistance, your household income must be below these limits (Updated Oct. 2023):

How to apply  

• Complete a Housing Rehabilitation Program application.
• Interested homeowners can also download, complete and return the Housing Rehabilitation Program pre-application to Hennepin County.

City staff is happy to assist Minnetonka residents with the application process. Contact Housing Coordinator Kendyl Larson, 952-939-8267. 

Minnetonka residents can apply for low-interest loans to make repairs or energy efficiency improvements to their home. Low-interest financing is also available specifically for residential solar energy projects.

Learn more and apply for these helpful resources from the Center for Energy and Environment and the Minnesota Housing and Finance Agency.

• Twin Cities Habitat for Humanity Foreclosure Prevention provides free counseling, advocacy and resources to homeowners behind on mortgage payments or property taxes. 

• Lutheran Social Services – Foreclosure Prevention provides counseling to help you get through a potential foreclosure.