Does the assistance need to be paid back?

There are two types of financial assistance:

  • Two-part loan that includes a payable and deferred loan. The loan is available in a combination of a low interest loan and a deferred (forgivable) loan over 5 to 20 years. Part of the loan is payable and part of the loan is forgiven every month you live in the house.
  • Deferred loan. Forgiveness loan will be provided to seniors, age 62 and above, who are at the income level below 50% of HUD median income. Deferred loans are forgiven monthly over the period of the loan and no payment is required as long as you remain in the home as required and meet all deed requirements.

Show All Answers

1. What type of repairs are eligible?
2. What type of repairs are not eligible?
3. Will the repairs need to be paid back?
4. How do I apply?
5. What happens after I apply?
6. What are other provisions?
7. Do I need good credit?
8. I still have a mortgage payment, can I qualify for the program?
9. What are the steps to receive assistance?
10. What kind of help should I receive if my application is approved?
11. Does the assistance need to be paid back?
12. Will a lien be placed against my property?
13. What do I need to do after the project is completed?