City of Saint Paul Rental Rehab Loan Program is Now Open

The Rental Rehab Loan Program is Now Open for Intake Forms

The Housing and Redevelopment Authority (HRA) of the City of Saint Paul is now accepting intake forms on a first come, first serve basis from responsible landlords who are interested in making repairs to their rental properties.

The Rental Rehab Loan Program offers 0% interest loans up to $75,000 per property. Eligible properties must be located in Saint Paul, no larger than 7 residential units, and at least half of the units must be rented to tenants earning 60% Area Median Income (AMI) or less.

City staff will begin reviewing eligible intake forms on Monday, May 13, 2024. Staff will reach out to owners in the order the intake forms were received. Additional documents will be requested for the underwriting process. The program will remain open as long as funding is available.

Additional information

• Eligibility: The intake form will preliminarily determine your eligibility based on the property and financial criteria outlined in the program guidelines. If you qualify, you will be directed to submit your application information.
  
• Participation in the 4d Program: Staff will assist property owners with the 4d enrollment process at the time of closing. The 4d program qualifies the affordable units for a lower property tax rate, providing additional savings to reinvest into the property.
  
• Application and Closing Fees: A $50 application fee is due during the underwriting process for title search and soft credit check. A $246 fee is due at closing for closing and recording costs.
  
• Repayment: Owners repay the loans on a quarterly schedule over ten years, so the goal is to always have some amount of capital in the revolving loan fund. This model allows more responsible landlords and renters to benefit from the program.

Contact the Rental Rehab team

Please reach out to Danielle Sindelar, Rental Rehab Loan Program Project Manager, with any questions.

Last Edited: May 2, 2024