SPECIAL LOAN PROGRAMS
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Grants
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Loans
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Amortizing
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Deferred
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Special Requirements
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- Must be in target area or must plan to utilize an innovative lead hazard reduction
treatment
- Underwriting must show no affordability to repay loan or property does not have
sufficient value to secure debt
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N/A
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-
Only if underwriting shows no affordability to repay loan
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Annual Sponsor Maximum
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$100,000
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N/A
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$100,000
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Unit Maximum
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$25,000
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$25,000
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$25,000
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Loan Terms
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N/A
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0%-7%, 20 Years
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0%, 20 Years
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Match Requirement
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- 20% For-Profit sponsor
- 10% Nonprofit sponsor
- 10% Owner-Occupants with income above 80% of median
- N/A Owner-Occupants with limited incomes (i.e. income is less than 80% of median)
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N/A
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N/A
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Fees
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- For-Profit sponsor must pay
- Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
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- For-Profit sponsor must pay
- Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
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- For-Profit sponsor must pay
- Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
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Debt-to-Value
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N/A
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100%
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100%
Exceptions for Owner-Occupant property with lead-affected household
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Loan Forgiveness
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N/A
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N/A
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If no equity is available to repay the loan upon resale, transfer or after 20 years,
then forgiveness may be considered.
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