United Community Bank has partnered with the City of Perham to offer assistance to Perham homeowners for updating their homes and increasing the value of their property and enhancing our community. UCB is participating in this program by providing low-interest loans to eligible homeowners for qualified home improvement projects.
- 3.75% fixed interest (3.764% APR*)
- repayable over 10 years
- minimum loan $10,000 / maximum loan $50,000
- maximum loan-to-value 90%
*Terms and conditions may apply. A $25,000 home equity loan at a 3.75% interest rate for 120 monthly payments of $250.21 will have a 3.764% APR.
- requires automatic payment plan from UCB checking account
- application period runs April 2, 2018 to June 29, 2018
- subject to credit qualification and home evaluation
Funds may be used to address code and structural corrections, energy improvements, and general property improvements. Loans are available to finance new improvements not yet under construction, and if there are code corrections identified during the inspection, they must be addressed as part of the project.
Home/property must meet all of the following criteria:
- built before 1990
- located in City of Perham municipal boundaries
- zoned for residential use
- owner-occupied single resident
- current on property taxes and special assessments
- current assessed property value is less than $200,000
Project must include at least one of the following:
- foundation work (drain tile, bracing)
- major exterior improvements (siding, roofing, windows)
- addition of bedroom or new living space
- major interior remodeling or replacement of major mechanical systems (furnace, electrical system)
Questions? Please call Haley at (218)346-4582, email email@example.com, or visit us in person at City Hall!
How else can I improve my home?
City of Perham offers several energy conservation rebates, as does Otter Tail Power Company. This means you get money back for upgrading items like your furnace, hot water heater, lighting, etc! And think of the money you’ll save over time!
“United Community Bank | Member FDIC | Equal Housing Lender.”