Foothill Ranch - Housing Rehabilitation Loan Program

By
Real Estate Broker/Owner with Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch BRE# 01274644

Looking To Spruce Up Or Repair Your Foothill Ranch Home?

If you own a home in Foothill Ranch (or Lake Forest for that matter) you may be eligible for the City's Housing Rehabilitation Loan Program.  This loan program offers zero-interest deferred loans for home repairs and improvements.

Homeowners may receive up to $30,000 for home improvement items. Mobile home owners may receive up to $15,000. There are no monthly payments on the loan. The total principal payment is due at the time of sale or transfer of title/ownership. Additionally, a 3% loan that has amortized payments over a fifteen (15) year period is available if you would like to make payments. 

Eligible Repairs
Eligible repairs include roofing, windows, exterior and interior painting, plumbing, electrical, energy/weatherization items, garage doors, and other common home repairs. Income limits (see table below) and other qualifications apply. 

Requirements
 - applicants must live on their property
 - may not have previously received a rehabilitation loan
 - must have sufficient equity on the home
 - cannot exceed the asset limitations

Income Requirements
Your current income and last two (2) years of income may not exceed:

 HOUSEHOLD SIZE  GROSS INCOME PER YEAR
 1  $64,790
 2  $74,030
 3  $83,270
 4  $92,510
 5  $99,880
 6  $107,360

If you have any questions regarding the Housing Rehabilitation Loan Program, or would like to request an application, please call the city at 949-461-3473.

Posted by

OC Real Estate Solutions                                                            

by DAVE GUBLER| IML REAL ESTATE |  broker license #: 01274644

direct: 949 292 2763   |   office: 949 273 8923 
web: imlrealestate.com | blog: oc real estate solutions

Successes! 40 Homes Sold In The Last 12 Months: SOLD GALLERY

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