Richfield Housing Programs

FORECLOSURE PURCHASE INCENTIVES NOW AVAILABLE!

Funds are currently available for prospective homeowners purchasing a foreclosed home in the City of Richfield.  Up to $15,000 is available with NO INTEREST and NO MONTHLY PAYMENTS.

No income limits are required to access this program.  Click on the following link for more information:  Foreclosure Purchase Incentive Program

HOMEOWNERSHIP ASSISTANCE

• Homes Within Reach - is an organization that assists individuals and families in owning a home.
• Homebuyer Education is an invaluable investment to prepare for home ownership. 

FORECLOSURE

• Foreclosure Prevention
• Foreclosure Response

REMODELING FUNDS

Transformation Home Loans:

Locally-funded loan program for renovations valued at $50,000 or more are eligible.  Zero percent interest, 30-year deferred loan.  Loan covers 15% of total project costs, up to $25,000.  

• Program Information
• Application

Rehabilitation Deferred Loan (612-348-2235):

Federally-funded loan program for basic home improvements.  Zero percent interest, no monthly payments, and a maximum loan amount of $30,000 per income-eligible household.  A 3% interest loan is available for households earning less than $64,000 (in 2009 for a family or four).  Contact Hennepin County at 612-348-2235 for more information.

Housing Resource Center (612-722-7141):

Free housing services to Richfield residents including:

• Construction consultation
• Resource referrals
• Home improvement loans
• Home buyer assistance
• Accessibility modification consultations
• Consultations on health and safety issues

Center for Energy and Environment (612) 335-5885:

Loan programs for home improvements.  Information about Sound Insulation Programs.  Information about Energy Improvement rebates.

REMODELING RESOURCES

• Contractors recommended by residents
• Recommend a Contractor
• Remodeling Fair (Held annually in January)
• Remodeling Tip Sheets
• The Richfield Remodeling Advisor is available to meet with you discuss ideas, and provide information and general cost estimates. This service is free! Call 612-861-9772 to schedule a home visit.
• Remodeling Plan book for Cape Cods & Ramblers
  This book is available for purchase $10 (resident), $15 (non-resident).  Call 612-861-9760.

NEW CONSTRUCTION PROGRAMS

New Homes Program:

The purpose of this Richfield HRA program is to provide safe, decent, and affordable housing opportunities for low- and moderate-income home buyers.

• New Home Program Details

Richfield Rediscovered Program:

Facilitates the construction of a new single-family home on a vacant lot.  New home must meet program design guidelines.  Application fee, application and HRA approval required.

• Program Guidelines
• Application Cover Sheet
• Project Information Sheet