Home Improvement Partnership Program

How it works

The City of Grand Forks says it partners with Gate City Bank to help homeowners make repairs and home improvements at a low interest rate. The current program page says the loan can be used for projects from $10,000 to $100,000, with repayment options of 10 or 15 years and an APR as low as 4.49%.

What the money covers

The city says eligible projects must include at least one of these:

• Foundation work
• Siding
• Roofing
• Windows
• Other major exterior upgrades
• Addition of bedroom or new living space
• Major interior remodeling
• Replacement of major mechanical systems
• Conversion of a rental unit to owner-occupied
• Radon mitigation

The page also notes that garages must meet zoning code requirements for allowable square footage, and projects needing a variance for larger square footage are ineligible.

Amounts and terms

• Project size: $10,000-$100,000
• Maximum loan-to-value: 90%
• Repayment: 10 or 15 years
• Current page APR: as low as 4.49%

How to apply

The city directs applicants to the Community Development Department. The page says completed applications are forwarded to Gate City Bank for loan approval.

Timing and deadlines

The current webpage does not list an application deadline or end date.