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You need to be able to pay your monthly loan payment, live in the property, and pay your property taxes. You must maintain the house and budget to include future maintenance, repair and replacement of appliances. You must maintain a homeowners insurance policy that covers all repairs on the re-constructed home.
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Repairs or modifications to achieve accessibility that are urgently needed to make the housing safe, sanitary or habitable are eligible for assistance. Community Development staff will inspect the unit to determine if requested repair is eligible. Eligible Repairs:
When a repair is covered by an insurance policy and only a portion of the cost to repair is covered, the owner must sign over insurance claim payment(s) to the City of Denton before work may begin. Owner insurance funds will be deposited into an escrow account and will be expended first when contractor payments are approved. If owner has already spent insurance funds on repairs, owner must provide proof of payment and detailed documentation of work completed before a decision can be made if the repair is eligible for funding.
Unsafe and substandard structures that cannot be made safe for habitation with the maximum allowed or less will not be eligible for assistance. The owner will receive a letter notifying of the hazards and why assistance is being denied. Under such circumstances, Community Development Division will recommend a household seek safe housing as soon as possible.
Once the approved repairs are completed and the contractor(s) receives payment, no additional repairs can be requested or approved.
No, assistance does not need to be paid back. It is a grant and no lien will be placed on the property.
If the bid for the approved emergency repair is more than the maximum allowable funds, the project will not be eligible and the City of Denton will be unable to complete the repair.
In the event that an applicant feels that his/her circumstances require special consideration, s/he may request, in writing, a waiver from the usual requirements. All requests should specify the requirement(s) to be considered for waiver and state the applicant's reason(s) or special circumstances why s/he believes a waiver should be approved. The Community Development Administrator will review requests on a case‐by‐case basis. Applicant will be notified in writing of the final decision.
Dispute: The contractor's work will be monitored by the applicant, City staff that may include Community Development staff or/and the City of Denton building code inspector. If the applicant considers any work done by the contractor to be unsatisfactory or incomplete, the applicant should advise the contractor of the discrepancy and ask that it be corrected. In the event a dispute exists between the applicant and the contractor with respect to the work, the City shall take appropriate action in accordance with the provisions of the construction contract to assure that the applicant is satisfied before making any payment to the contractor. In the event a dispute cannot be resolved, the Division Director shall consider all pertinent facts and shall decide an appropriate course of action to resolve the dispute.
You must show the ability to pay property taxes, utilities, homeowner property insurance payments, lenders, creditors and the home improvement loan from the City.
Yes, but your mortgage payment needs to be current and up to date. You need to have some equity in your home. Your mortgage loan balance cannot be more than 80% of the property's appraised value for rehabilitation or 70% of the property's appraised value for reconstruction.
There are two types of financial assistance:
Yes, rehabilitation and reconstruction liens are in place for a 5 to 20 year period based on the type and cost of project.