Bloomfield, NJ Homeowners get up to $15,000 in home repairs with a forgivable, ZERO payment and ZERO interest loan!
If you own a home in Bloomfield New Jersey and need to make repairs and/or home improvements, Bloomfield's Residential Rehabilitation Program may be able to assist you with its ZERO payment and ZERO interest loan!
The Residential Rehabilitation Program is funded through the Community Development Block Grant Program providing forgivable loans with ZERO payments and ZERO interest to low/moderate income Bloomfield homeowners who occupy a single family and/or 2 or 3 family homes, whose property taxes are current and who meet the income guidelines of:
Household Size |
Maximum Income* |
1 |
$44,950 |
2 |
$51,400 |
3 |
$57,800 |
4 |
$64,200 |
5 |
$69,350 |
6 |
$74,500 |
7 |
$79,650 |
8 |
$84,750 |
*Income limits subject to change*
Bloomfield's Rehabilation Program allows Bloomfield homeowner make repairs up to $15,000 and up to $10,000 in an owner occupied 2 or 3 family house.
DOES THE LOAN NEED TO BE PAID BACK? NO. If you stay in your home for the next 10 years, the loan is forgiven with no repayment required.
CAN I SELL MY HOME AFTER THE REPAIRS? YES but IF you sell your home during the 10 year period, then the you MUST PAYOFF the amount you borrowed, interest free.
RENTAL UNITS improved under the Program must be rented at affordable rents to low/moderate income families for the 10 year period.
Examples of eligible home improvements may include heating, roofing, plumbing, electrical, foundations, violation abatement, lead paint remediation and windows.
Bloomfield homeowners can get up to $15,000 for home improvements with a forgivable, ZERO payment and ZERO interest loan! For more information and/or to apply visit Bloomfield Township Residential Rehabilitation Program. CGP&H administers municipal and county sponsored home improvement programs that service numerous towns throughout New Jersey and Pennsylvania.
Roof Window and Electric Outlet Photo credit: http://www.bigfoto.com
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