Housing Solutions for the Southwest is pleased to announce that the Colorado Department of Local Affairs, Division of Housing approved a request to expand the Housing Solutions Home Rehabilitation Loan Program for homeowners in southwest Colorado.
For more than 35 years, the state of Colorado has awarded Housing Solutions funding to provide low-interest loans (1 percent to 2 percent) for homeowners to complete home repairs.
At the request of Housing Solutions, the state approved an expansion of the Home Rehabilitation Loan Program to serve households with incomes up to 120 percent of the area median income. Previously, eligibility for the Home Rehabilitation Loan Program was limited to households earning below 80 percent of area median income. With the previous requirements, many applicants who needed the funding did not qualify. With the new guidelines, many deserving community members are eligible. For example, a family of four living in La Plata County with an income of $117,000 or below qualifies for the program.
The goal of the Home Rehabilitation Loan Program is to provide a low-interest loan for home repair for homeowners with low to mod- erate incomes. With high housing costs, this program provides funding to cover essential repairs so that families can safely remain in their home and preserve their largest asset. The program has served seniors, households with fixed incomes, first-time homebuyers and many people working in our local communities that might not have the funds for essential housing repairs. Housing Solutions provides loans for manufactured homes or conventionally built homes.
Housing Solutions is currently accepting applications for the program.
We work with families to make health and safety-related repairs to homes. The cost of repairs is booked into a very low-interest loan, paid back to Housing Solutions over 20 or 30 years. Our staffing costs are supported by the Colorado Division of Housing through federal Community Development Block Grant funding.
Does your home have any of the following problems?
- Leaky roof
- Faulty electrical system
- Faulty plumbing system
- Inadequate heating system
- Well/pump troubles
- Having septic/sewer troubles
- Exterior siding is rotting
- Interior walls have cracks
- Crumbling foundation
- Sagging floors
- Possible overcrowding
Call us today to see if you qualify! 970-259-1086, x17.