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Neighborhood Revitalization Initiative (NRI) Existing Rehab Program

What Is It?

The Existing Rehab Program encourages revitalization in older neighborhoods by providing existing homeowners with a low-interest loan for significant home improvements.

What's the Incentive?

Low-interest second mortgage at 2.25% (2.59% APR) for home improvement projects of an owner-occupied property. Loans are repayable over a 10-year term and can range from $10,000 to $75,000.

Is my House Eligible?

  • Must be owner-occupied
  • Must be located within Fargo city limits
  • Cannot be located in the 100 year floodplain
  • Assessed value must be less than $250,000
  • Must be at least 40 years old
  • Must have a minimum of two legal bedrooms after the rehab work is complete
  • Must require "significant" rehab ($10,000 to $75,000)
  • Proposed rehab work must add to the long-term value and life of the property and neighborhood

How Do I Begin?

  • Download the Home Improvement Loan Application and develop a scope of work for the project
  • Submit completed application and scope of work to the Planning Department
  • Develop the rehab project in conjunction with city staff
  • Close on the loan
  • Start rehab project

Finished Rehab Projects