AdvoCAP - The Rehabilitation Loan Program assists low to moderate income (< 80% CMI) homeowners to live in safe and decent conditions by providing technical and financial assistance and by bringing their homes up to minimum health and safety standards. It is a repair program that may assist with structural issues, heating systems, roof, gutters, plumbing problems, electrical issues, accessibility needs and other code violations and identified work as specified.
The minimum loan amount is $1,000 and it may not exceed $29,999. A qualified applicant must own the home, mortgage and real estate taxes must be current, and they must meet the income qualifications. The unit must be owner occupied single family residences. We are unable to assist persons living in a mobile home, or those whose debt to loan value exceeds 100% of assessed value. Homeowners have control over the selection of the contractors they use. We provide a 0%, deferred loan to the homeowner in the form of a mortgage for the total amount of work done plus fees.
The Rehab Program is an automatic part of our Home Buyer Program where the homes are inspected prior to the homebuyer purchasing the property, as well as to current eligible homeowners.