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CEE :: City Financing <br />Interest Rate(s) <br />• 5% if your household income is $60,000 or less <br />• 5.5% if your household is higher than $60,000 and less than $96,600 <br />• Income is based on your income for the current year <br />Eligible Properties <br />• Single family, owner -occupied residential properties located in the City of Anoka. <br />Eligible Improvements <br />Page 2 of 4 <br />• Most improvements are eligible, interior or exterior remodeling and upgrades. <br />• Applicants must provide two bids for each improvement project. <br />• If you are uncertain about the eligibility of your improvement contact the Center for Energy and Environment <br />at(612)335-5885. <br />Loan Term <br />• Maximum repayment term 20 years. <br />Homebuyer Assistance Deferred Loan Program <br />Loan Amount <br />• Minimum of $1,000 and Maximum of $10,000. Maximum available for down payment assistance is $2,500 <br />and Maximum for home improvements is $10,000. In no event shall the combined total exceed $10,000. <br />Income Limit <br />• No Maximum Income Limit! <br />Interest Rate(s) <br />• 0% fixed interest <br />Eligible Properties <br />• Currently vacant or foreclosed properties in the City of Anoka. Properties must become owner occupied. <br />Eligible Improvements <br />• Most improvements are eligible, interior or exterior remodeling and upgrades. <br />• Applicants must provide two bids for each Improvement project. <br />• If you are uncertain about the eligibility of your improvement contact the Center for Energy and Environment <br />at (612) 335-5885. <br />• Improvements to the property must be completed within 6 months of loan closing. <br />Loan Term <br />• The loan is deferred until the time of sale of the property or refinance. <br />http://www.emcee.org/programs_residentiallhome_improvement financinglcity_program... 10/28/2010 <br />