Housing rehabilitation funds are provided to low-income homeowners as a deferred loan that is due upon sale of the home, if the home is no longer their primary residence, or 30 years from the date of the loan origination. Households eligible for the 0% or 2.25% simple interest loans must have annual incomes at or below 80% of the county median income.
Repairs eligible for funding include, but are not limited to, roof work, siding, foundation repair, handicap accessibility, door and window repair or replacement, wells, septic systems, plumbing, electrical, heating system and water heater replacement, and lead hazard reduction.
CAP performs an assessment of each home to determine what work is needed to meet HUD Housing Quality Standards. In order to qualify for the loan, the homeowner has to agree to all the recommended work. Rehabilitation work is performed by contractors selected by the borrower from an approved list.