The Suburban Ramsey County Energy Conservation Deferred Loan is a 10-year deferred payment loan.  It is available to improve the efficiency of owner-occupied homes in Ramsey County, outside of the city of Saint Paul.

The program applies a mortgage on the title of the home. The loan requires no payments, and never adds interest. If the loan recipient lives in the home for ten years, the loan is forgiven. If the house is sold within the first five years, the loan recipient repays the entire principal amount. During years six to ten, the loan principal drops 20% per year, down to a zero balance on the 10th anniversary of the loan.  If the recipient does move, the equity in the home can be used to provide repayment at the time of sale.

Participants with difficult credit ratings do qualify for the Energy Conservation Deferred Loan.  Qualifying loan recipients, however, cannot have tax arrears or student loan defaults.  Maximum upper income limits apply.  Based on family size, recipients' combined yearly gross income cannot exceed:

$44,800 / 1 person
$51,200 / 2 people
$57,600 / 3 people
$64,000 / 4 people
$69,100 / 5 people
$74, 250 / 6 people
$79,350 / 7 people
$84,500 / 8+ people

Other program terms:
Financing is available for up to $6,500 for energy conservation upgrades determined by NEC Energy Consultants.

No loan payments are made by the borrower unless the house is sold within 10 years of the loan date.

The borrower has no out-of-pocket expenses.
Qualifying homes were built before 1988.

No tax arrears or student loan defaults

Qualifying borrowers have a maximum of $50,000 in assets - excluding home, automobiles, and retirement funds.

Market value of the home cannot exceed $251,750. 

 Please contact LeAnne at (651) 221-4462 ext. 132 to apply for this grant!