Skip to main content

Housing and Redevelopment Authority of Todd County

Security Deposit Loan Program

300 Linden Ave S, Sun Rose Courts, Browerville, MN, 56438

Distance: 1129 Miles

(320) 594-6388

Website

https://www.co.todd.mn.us/government/overview/community/todd-county-hra

Service Details

Description

Designed to assist income eligible applicants to borrow money from the Todd County Housing and Redevelopment Authority (HRA) to use for payment of security deposits for rental units in Todd County


* Maximum loan will be lesser of actual deposit or $550
* Applicant household income must not exceed 80% of the area median income as determined by Housing and Urban Development (HUD).
* Applicants must demonstrate the ability to repay loan. The HRA will have sole responsibility and authority to determine eligibility based on third party verification, credit references and rental history.
* Annual percentage for these loans will be 2% simple interest.
* All loans will be secured by a personal note from the borrower. Loans will be repaid within 12 month period with a minimum monthly payment of $35.
* Loans not repaid within 12 months will be submitted to the State of Minnesota Revenue Recapture Program.
* All repayments will be deposited into Revolving Loan Fund, to be made available for additional applicants.


Features

  • Area Served by County
    • Todd County 
  • Specialization
    • People with low income 

Eligibility

Todd County residents


Application Instructions

Call the local office for application instructions


Fees

There is no fee for this service.


Area Served

Todd County


Websites

Phone Numbers

Type Number Hours
Main (320) 594-6388
Toll Free (866) 814-7713

Last Update

2/15/2024

Other Locations

This provider does not offer this service at other locations.

Taxonomy Terms Used. Clicking a taxonomy term from the list below launches a new search.: Clicking a taxonomy term from the list below launches a new search.