To obtain additional information about the Housing Rehabilitation Loan Program and/or to obtain a loan application, contact Rehabilitation Loan Consultant, Theresa Dobbs at (949) 461-3473 or email firstname.lastname@example.org.
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Repairs that are eligible in the program include roofing, windows, exterior and interior painting, plumbing, electrical, energy/weatherization items, garage doors, and other common home repairs. Income limits and other qualifications apply.
On an annual basis, the City receives a limited amount of Community Development Block Grant (CDBG) funding from the Federal Department of Housing and Urban Development (HUD). From this grant, the City Council allocates funding for various eligible activities each year. Typically, a portion of the annual CDBG is allocated to the City’s Housing Rehabilitation Program. The Housing Rehabilitation Program provides qualified homeowners with either a zero percent deferred interest loan, or a three percent interest loan. Loans are issued to eligible homeowners on a first come first served basis until the annual funding allocation for the program is exhausted.
Conventional single-family home owners may receive up to $30,000, and mobile home owners may receive up to $15,000 for eligible home improvement items. Applicants must qualify as low or moderate-income households for the previous two years, homes must be owner occupied, and homeowners must have sufficient equity in the home. Other requirements also apply. Click here for more information. There are no monthly payments on deferred loans. The total principal payment is due at the time of sale, transfer of title, refinance or when homeowner no longer resides at property. Additionally, a 3% loan that has amortized payments over a fifteen (15) year period is also available.