City Offers Grants, No-Interest Loans for Home Improvements
Funding available first-come, first-serve to eligible applicants.
TEMPLE CITY, CA (Sept. 11, 2017)—The City of Temple City is seeking residents to participate in its housing rehabilitation program, which offers grants and no-interest loans.
Funded by the U.S. Department of Housing and Urban Development, loans and grants are available to low and moderate-income Temple City homeowners to make needed repairs to their property.
“Many homeowners often face difficulty in financing necessary upgrades to their homes,” said Mayor Cynthia Sternquist. “These loans and grants will make it possible for all our residents to enhance their property and maintain Temple City’s safe environment.”
The loans and grants can be used for a number of improvements involving plumbing, electrical and HVAC upgrades; energy efficient windows and doors; new roofs or repairs; interior and exterior painting; and ADA modifications like entrance ramps and bathroom retrofits. The maximum amount for a loan is $35,000 while the maximum for a grant is $10,000.
Grants and loans are restricted to owner-occupied single-family homes in Temple City. Loans do not need to be repaid until the property is sold, refinanced, transferred or is no longer the homeowner's primary residence. Grants are forgiven if the homeowner remains on the property for at least five years.
To be eligible for funding, a property owner’s income cannot exceed $50,500 for a one-person household or $72,100 for a four-person household. The loan program requires homeowners to be current on property taxes, hold no more than two bank loans on the property and have at least 30 percent equity in the home.
Funding is available for the 2017-2018 fiscal year on a first-come, first-serve basis with repair work to begin as early as November. To apply and for more information on eligibility—including household income and permitted repairs—call Sandy Medrano at (626) 305-6955.
—To view other City news releases, visit templecity.us/pr.—