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Home Improvement Loans for Willmar, New London, and Sunburg Homeowners

Finance your kitchen, bathroom,
or exterior renovations.

Tackle your home improvement project with the help of a Lake Region Bank home improvement loan option. The Lake Region Bank home loan team can help you understand your home improvement loan options and get the application process started. Available to all Minnesota homeowners.

Start the Application Process

Get in touch with our home loan team to secure your home improvement loan financing. Enter your information below or call (320) 235-5900.

The Minnesota
Housing Fix Up Fund

The Minnesota Housing Fix Up Fund is a statewide affordable, fixed-rate home improvement loan program available to you through Lake Region Bank. You can use the Fix Up Fund to finance a wide variety of home renovations, including home repairs and remodeling, energy efficiency improvements, and accessibility improvements. Here’s a closer look at how the MN Fix Up loan program works.
Family Relaxing On Sofa At Home

What Home Improvements Can I Make?

You can use the Minnesota Housing Fix Up Fund to finance all sorts of home improvements. You can choose to hire a contractor or do the work yourself. Here are a few examples.
  • Bathroom remodel
  • Kitchen remodel
  • Siding and roofing
  • Porches and decks
  • Basement remodels
  • Garage updates
  • Mold and radon mitigation
  • Heating and cooling systems
  • Windows
  • Insulation
  • Attic air sealing
  • Water heater replacement
  • Ramps
  • House accessibility modifications
  • Safety modifications

What Types of MN Fix Up Loans Are Available?

The Minnesota Housing Fix Up Fund offers five different types of loan programs. All loans have affordable fixed interest rates. None have a prepayment penalty.

  • Secured by mortgage lien
  • Loan amount up to $75,000
  • Maximum repayment term is 10-20 years
  • Minimum Credit Score: 620
  • No equity or mortgage lien required
  • Loan amount up to $25,000
  • Maximum repayment term is 10 years
  • Minimum Credit Score: 680
  • Secured by mortgage lien
  • Loan amount up to $25,000
  • Maximum repayment term is 10-20 years
  • Minimum Credit Score: 620
  • No equity or mortgage lien required
  • Loan amount up to $25,000
  • Maximum repayment term is 10 years
  • Minimum Credit Score: 680
  • Secured by mortgage lien
  • Loan amount up to $25,000
  • Maximum repayment term is 10-20 years
  • Minimum Credit Score: 620

Am I Eligible?

Probably. The MN Fix Up loan program has generous income limits. Here’s a closer look at the program’s eligibility requirements.  

  • Own and occupy the home you are renovating. Single-family, duplexes, triplexes, and fourplexes are eligible.
  • Provide itemized contractor bids or materials estimates for proposed work.
  • Use the funds for an eligible energy or other improvement.
  • Energy efficiency and accessibility loans have no income limits.
  • For secured and unsecured repair and remodeling loans, Kandiyohi County residents have a $139,200 income limit. Income limits subject to change.

Cash-Out Refinance
on Your Mortgage

A cash-out refinance is another option for financing your home improvement project using the equity you’ve built up in your home, and pays off your first mortgage and gives you some cash for improvements. The amount available to you depends on the amount of equity you have in your home. Speak with a Lake Region Bank mortgage loan officer to discuss your options.

Family Inside Custom Kitchen

What Home Improvements Can I Make?

You can use the lump sum payment from your cash-out refinance to fund any type of project you wish, including interior and exterior renovations on your home.

What Types of Loans Are Available?

Fixed-rate and adjustable-rate mortgages are available through a cash-out refinance. Rates vary day by day, so get in touch with the Lake Region Bank lending team to learn what your potential rate might be.

Am I Eligible?

Our mortgage lenders can help you decide if a cash-out refinance on your mortgage is the right choice for you. Apply now or call 320-235-5900 for support.

Home Equity or Home Improvement Loan

A home equity line of credit or a home improvement loan are two other options for financing your Willmar-area remodeling project. A home equity line of credit is a second mortgage on your home with a payment schedule and interest rate that is separate from your primary mortgage. A home improvement loan also has its own separate payment schedule and interest rate. Speak with your Lake Region home loan officer to discuss your options.

Loving Couple Infront Of Their Home

What Home Improvements Can I Make?

You can use your home equity line of credit or home improvement loan to fund any type of project you wish, including interior and exterior renovations on your home.

What Types of Loans Are Available?

Interest rates vary day by day, so get in touch with the Lake Region Bank lending team to learn what your potential rate might be.

Am I Eligible?

Our lenders can help you decide if a home equity line of credit or home improvement loan is the right choice for you. Apply now or call 320-235-5900 for support.

Meet Your Home Loan Team

Tracy Lundy Team Member Of Lake Region Bank

Tracy Lundy

Mortgage Loan
Originator
NMLS# 522440

Jeremy Schmidt Team Member Of Lake Region Bank

Jeremy Schmidt

Consumer Services
NMLS# 569279

Lisa Groff Team Member Of Lake Region Bank

Lisa Groff

Vice President
Consumer Services
NMLS# 580204

Participating Lender Home Imporvement Loan Programs Minnesota Housing 2021

Get Started on Your Home Renovations Today

With financing through Lake Region Bank, you can make your dream home a reality. Start the application for your home improvement loan, and let us help you pick the right financing option.

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