Loans & Grants Rental Rehabs For Affordable Housing

3 Replies

I own a duplex in St. Paul, MN that I currently rent out. Recently I received a notice for a Rental Rehab loan for landlords who provide affordable housing. Because I currently rent to section 8 tenants I thought this would be a good loan to apply for in order to turn my duplex in to a triplex or at least to add another bedroom and bathroom and increase the passive income that the ulhome produces. My question for the bigger pockets community is; does anyone know of any governement loans or grants that are available to landlords who are willing to rent to low income tenants? Let me know, thanks!

I am not aware of anything for landlords but I did find this available to owner occupants: http://www.mnhousing.gov/wcs/Satellite?c=Page&cid=...

There were grants out related to lead based paint that could get part of your windows paid for if you had a child living there under a certain age range but I stopped following most of it...

It may be the same program as above but the DHS pushed down money to cities for rehab loans that were forgiven over time, not sure if this is still going on.

I would start by calling the notice and seeing if it applies to non-owner occupants.

While not a government grant there is a rehab loan for 2 unit properties that can be done as a refi since it is a first lien 30 year term fixed rate mortgage. I'm happy to address any questions.