Department of Employment and Economic Development
Low to moderate income homeowners in targeted communities can apply for funding to make permanent repairs to their homes. Based on their income the funds can be either a 10 year deferred loan or a 10 year, 5% revolving loan or a combination of both. There is no interest on the deferred loans and if the homeowner lives in the home for the ten year term the loan does not have to be paid back. The deferred and revolving loans are due in full if the property is sold or transferred within that 10 year period.
To be eligible your annual income must not exceed the following amounts:
| Family Size | Annual Income Limits |
| |
Very Low |
Low |
Moderate |
| 1 |
$19,850 |
$25,805 |
$31,750 |
| 2 |
$22,700 |
$29,510 |
$36,300 |
| 3 |
$25,500 |
$33,150 |
$40,800 |
| 4 |
$28,350 |
$36,855 |
$45,350 |
| 5 |
$30,600 |
$39,780 |
$49,000 |
| 6 |
$32,900 |
$42,770 |
$52,600 |
| 7 |
$35,150 |
$45,695 |
$56,250 |
| 8 |
$37,400 |
$48,620 |
$59,850 |
|
