Home Improvement Loan

United Community Bank has partnered with the City of Frazee to offer assistance to Frazee 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.

Date: April 13, 2018 Posted by: Marian Estenson, Deputy Clerk

Loan Terms

  • 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 to September 30, 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.

Would I Qualify?

Home/property must meet all of the following criteria:
  • built before 1990
  • located in City of Frazee 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)


    Please call Marian at (218)334-4991,
    email: marian.estenson@frazeecity.com or visit us in person at the city officel!

Click here for the application

 “United Community Bank | Member FDIC | Equal Housing Lender.”