Eligibility Requirements

Neighborhood Preservation Requirements
  • You must be the owner / occupant of a single-family home or an owner / occupied duplex (principal residence), and have owned the home for at least six months.
  • You must have a gross income which does not exceed the program limits.

Program Limits

Household Size

Income Not to Exceed

1

$45,100

2

$51,550

3

$58,000

4

$64,400

5

$69,600

6

$74,750

7

$79,900

8

$85,050

Limits May Change

If your income does not exceed the maximum for your family size, you may qualify for a three percent interest loan. If your income is less than what is listed above, you may qualify for a no-interest, deferred payment loan.

It is the intent of the program that each household applicant be evaluated for eligibility under the interest loan element first and the zero interest loan element second to ensure that the use of funds is maximized.

  • Your house must have some housing code problems that need repair.
  • Your assets such as bank accounts, stocks, or real estate interests (excluding your principal residence) must not exceed $15,000. The asset limit is $30,000 if you are over 62 years of age or disabled.
  • The indebtedness (what you still owe plus the value of other loans secured by the property) on your home, including a rehabilitation loan, does not exceed 90 percent of its appraised value.