Minnesota Housing Offers Rebates Up to $10,000 with Home Improvement Loans

Federal Stimulus Funds Provide Homeowners Incentives for Energy Saving Improvements

SAINT PAUL, MN (12/11/2009)(readMedia)-- Minnesota Housing announced today that it is offering rebates of up to $10,000 for energy saving updates in conjunction with the agency's home improvement loans. The Minnesota Housing Fix-up Fund offers affordable, fixed-rate loans to eligible homeowners to make home improvements. With the help of federal stimulus funds, homeowners may receive an Energy Saver Rebate for 35 percent of the cost of eligible improvements financed with the Fix-up Fund loan, up to $10,000.

"This is a great time for homeowners to take advantage of resources that can help lower their energy costs," said Dan Bartholomay, Commissioner of Minnesota Housing. "These resources are first-come, first-served, so I encourage homeowners to contact one of our participating lenders now."

The unreserved rebate program is designed to help homeowners with household income up to $96,500 improve home energy efficiency. Owner-occupied single family, condominium, duplex, triplex, or fourplex homes are eligible for the program.

Homeowners may be eligible for rebates by installing select energy-efficient furnaces, boilers, and central air conditioners, replacement exterior doors and windows, and light fixtures. Other improvements including wall and attic insulation in conjunction with attic air sealing and water heaters meeting certain conditions are also eligible improvements for the energy saver rebate.

"The Energy Saver Rebate will provide a much-needed incentive to homeowners to improve the energy-efficiency of their homes," said Bill Glahn, Director of the Minnesota Office of Energy Security and Deputy Commissioner of the Department of Commerce.

The rebates are funded with federal stimulus funds through a $4 million grant from the U.S. Department of Energy and the Minnesota Department of Commerce. Interested homeowners can visit www.mnhousing.gov or call 800.710.8871 for more information about participating Fix-up Fund/Energy Saver Rebate Lenders or contact Minnesota Energy Information Office at 800.657.3710 with questions about energy-efficiency improvements.

Minnesota Housing is a state agency committed to finance and advance affordable housing opportunities for low and moderate income Minnesotans to enhance quality of life and foster strong communities. The agency invests more than $1.4 billion in affordable housing each biennium. If ranked among commercial banks, it would be the sixth largest bank in the state, with total assets of $3.3 billion as of June 30, 2009.