Housing Rehabilitation Program
FAQ
How do I qualify?
How much can I borrow?
What are the loan terms?
When does the loan get paid back?
What kinds of repairs can be made?
Who does the work?
How do I apply?
How do I qualify?
To qualify you must:
Own or be buying the home you live in, and
Have adequate equity in your home & property to secure the loan, and
Have an annual family income within specific income limits.
How much can I borrow?
Based upon the amount of available equity in your home & property the standard loan amount is:
$15,000.00 up to
$25,000.00 based upon repair needs & available funding.
What are the loan terms?
Loan terms are dependent upon your annual family income:
0% interest loan with no interest accruing and no monthly payments, or
2% interest loan with no payments or interest accruing for one year
No fees or closing costs
20-year term
When does the loan get paid back?
The loan is re-paid when:
The home is sold, refinanced or the title is transferred.
What kinds of repairs can be made?
We cover repairs that address health, safety, or structural problems as well as general home repair in areas such as:
|
Foundation |
|
Roof |
|
Plumbing and Septic |
|
Painting |
|
Weatherization |
|
Dry Rot |
|
Handicapped Needs |
|
Flooring |
 |
Kitchen & Bathroom |
|
Siding |
|
Electrical |
|
Heating |
|
Gutters |
|
Doors |
|
Windows |
|
Drywall |
Who does the work?
A licensed contractor of your choice, or
Qualified homeowners
How do I apply?
Contact our office to ask about putting your name on our wait-list.
Fill out an Application Form.