CDBG Homeowner
Homeowner Rehabilitation
Helping Adams, Green Lake, Juneau, Marathon, Marquette, Portage, Waupaca, Waushara and Wood Counties
This is a program for ensuring the community's ability to conserve, rehabilitate and improve residential properties occupied by low-to-moderate (LMI) residents
Eligibility Requirements
- Owner-occupied or land contract buyer three months prior to applying. Contract must be written, legally binding and properly recorded. Contract seller we be required to sign mortgage
- All occupants directly benefiting from the Community Development Block Grant (CDBG) housing rehabilitation program must be at or below the appropriate Section 8 income limit for their county
- Include all sources of gross income and income from assets for all household members who are at least 18 years of age
- Property taxes paid to date
- Mortgage must be current
- All mortgages, judgments and liens in addition to the rehab cost cannot exceed 120% of the Fair Market Value of the property
- Property must be insured
Examples include but are not limited to:
- Roofs
- Siding
- Windows
- Plumbing
- Electric
- Septic
- Well
- Properties scheduled for sale, acquisition or condemned properties
- Mobile homes in a mobile home park (applicant must own land to be eligible)
- Reimbursement for work which has been contracted for or completed prior to signing agreement with the CDBG program
- Accessory buildings, garages or sheds
- New construction or expansion of the size of the structure
Homeowner Rehabilitation LoansOwner-Occupied loans provide no-interest with deferred payment home repair loans for LMI owner occupants.
Rental Unit loans provide 1.5% interest loans for repairing units rented to LMI tenants and/or creating new low or moderate income rental units by:
- converting vacant properties into rental units and/or
- converting large single-family homes into duplexes
After Rehab InformationIf there is a request to subordinate loans, each request will be subject to the following criteria as agreed upon by the Central Housing Region Committee:
- No additional debt can be incurred to the property
- There would be a savings due to a lower interest rate being offered to the borrower
- There would be better terms offered by the bank refinancing the debt
PROTECT YOUR FAMILY FROM LEAD BROCHURE
RENOVATE RIGHT BROCHURE
INCOME LIMITS