Eligible LP homeowners may apply for HUD home improvement loans

The City of LaPorte’s Office of Community Development and Planning is now accepting applications from eligible homeowners to obtain deferred-payment loans for certain home improvements. The application period runs from Aug. 1-31 and is open to city residents only.

This program is funded through the U.S. Department of Housing and Urban Development’s Community Development Block Grant.

The Homeowner Repair Program offers a deferred-payment loan for low- and moderate-income homeowners. The loan allows eligible homeowners to make certain improvements to their homes, including new roof, new furnace, electrical panel upgrade, and repair of leaky pipes or water and sewer lines. Rehabilitation work will take place during the summer of 2018.

The Homeowner Repair Program provides a loan of up to $23,000 at 0% interest, and homeowners make no monthly payments. The homeowner must repay the loan if the home is sold or title transferred, or when the home is no longer the primary residence, within seven years after the repair work is completed.

Gross annual income of all household members determines eligibility.  Other eligibility requirements include assets limitation, sufficient home equity, sustainable monthly income, and location in a targeted neighborhood. If repair estimates exceed $23,000, the City of LaPorte may not be able to assist the homeowner.

Applications for the Homeowner Repair Program are available during August at the CDBG Program Office located on the second floor of LaPorte City Hall, 801 Michigan Ave. The application can also be found on the City of LaPorte’s website: www.cityoflaporte.com.  Look for CDBG.

For further information, call Mary Ann Richards at 219/362-8260.

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