262018Feb

2017-2018 Owner-Occupied Rehab Loan Program

Applications are still available for Homeowner Rehabilitation Loans throughout the County. This program provides low interest or deferred loans to low-income homeowners who need home repairs. Low interest loan rates vary according to your ability to pay and household income, going no higher than 5%.

All clients must meet the HUD Income Limit of 80% and below the area median income, adjusted for household size. In addition, the client must own the home (no trailers unless the trailer is on a permanent foundation and the owner owns the land the trailer is on); not have any judgments or liens; and low debt-to-income ratio (other requirements are listed in the Rehab Loan brochure). The loans are for up to $30,000 depending upon the equity in the home.

If you are an interested homeowner, please visit www.burlingtonnc.gov or contact the City of Burlington at 336-222-5093 to have an application mailed.

Additional questions can be directed to Planning Director Libby Hodges at Libby.Hodges@alamance-nc.com.