The Housing Rehabilitation Program is a loan program designed to assist low and moderate-income households with repairs to their homes. Funds are also available for rental properties in Chippewa County if the landlord is willing to rent to low and moderate-income tenants.
The loan is secured by a mortgage.
Owner-occupied property loans are offered at 0% interest and payments are deferred until you sell or move out of the home.
Rental-property loans are offered at 3% interest and are repaid in monthly installment payments amortized one year per thousand borrowed. Some communities require a 50% match.
WHAT TYPE OF PROPERTY IS ELIGIBLE?
Owner-occupied homes that include the land upon which it sits (house payments, taxes and insurance must be current)
Property must have enough equity to cover the value of all current mortgages and debts, and the value of repairs completed through the Housing Rehab Program.
Funds are available for necessary home repairs such as:
Doors & windows
City water/sewer connections
Handicap accessible improvement
Funds cannot be used to:
Pay for work completed prior to loan approval.
Remodel or redecorate.
Install luxury items such as patio doors, bow windows, decks, landscaping, etc.
Build new construction.
WHO CAN APPLY
Home owners residing in the covered areas that meet income limits. Income and ownership will be verified.
I own a mobile home but not the land, am I eligible?
No. Mobile homes in parks or trailer court are not eligible.
What if my home is in a Life Estate?
All people included in the Life Estate would be required to sign all loan documents.
What if my home is on a Land contract?
The land contract holder would need to sign the loan/mortgage documents also.
May I be reimbursed for work previously completed?
Funds cannot be used to pay for work completed prior to loan approval.
May I do my own work?
Yes, an owner may act as their own contractor but will not be paid for their own labor. They must provide evidence of their ability to do the work and materials must be purchased and installed prior to payment.
May I choose my own contractor?
Yes, owners choose the contractor they will use. Participants are required to get 3 bids from contractors of their choice. Contractors must carry liability insurance and provide income tax identification information to the Program Administration.