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Equity Loans > Personal Banking > home

Fix-up Fund

Make your home improvement ideas a reality with the Minnesota Housing Fix-up Fund loan. Home Federal is your local participating lender.

A Fix-up Fund can be used for remodeling, repairs and energy efficiency projects at a low fixed interest rate with low affordable monthly payments. Borrow up to 110% of the after improved value of your home with loan amounts from $2,000 to $50,000.

To be eligible for the Fix-up Fund, you must:

  • Meet the maximum household income limit of $96,500
  • Have acceptable credit and the ability to repay
  • Own and occupy the property to be improved

You can hire a contractor or do the work yourself, but call us today to secure your financing before starting any of the projects.

Home Equity

Borrowing against the value of your home with a home equity loan can be a smart way to get cash with out tapping into savings and investments.

A home equity loan is a mortgage that allows you to borrow up to 90 percent of the appraised value of your home, minus the combined amount of any liens on the home. Interest on the home equity loan may be tax deductible, and the cash can be used for anything:

  • Home improvement
  • Debt consolidation
  • Auto purchase
  • College tuition
  • Medical bills
  • Large unexpected expenses
  • Any other worthwhile purpose

Contact us for more details

Home Equity Line of Credit (HELOC)

Whether you're looking to consolidate debt, or even buy a new car, a home equity line-of-credit from Home Federal may be right for you.

Much like a home equity loan, a home equity line-of-credit allows you to leverage the equity in your house to meet financial or large purchase goals. And, unlike a traditional loan, you can draw on your credit line as needed, giving you complete control over when you spend the money!
Home equity lines-of-credit also offer many advantages over other credit options.

  • Your interest may be tax deductible.
  • The interest rate may be lower than other financing options such as credit cards.
  • During the draw period you may draw on the line-of-credit, repay, and still access up to the original line amount without reapplying.
  • You can draw on the line-of-credit when needed.

Land and Lot

Whether you’re buying land or a lot to build a primary residence or a second home, or recreational land for personal use, our land and lot loan may help you finance the purchase.

If you already own a lot or land, we can also help you utilize the equity you have available to help you with your borrowing needs.

These loans are great for:

  • Borrowers who aren’t ready to begin construction at this time but want to purchase land.
  • Borrowers who are looking to purchase land for a second home.
  • Borrowers who are looking to purchase recreational land for such purposes as hunting.


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