 | OWNER-OCCUPIED HOUSING REHABILITATION PROGRAM
This program offers affordable 15-year deferred loans to eligible homeowners within the City of Capitola. The program is available to eligible owner-occupants of mobile homes and single-family homes. The loans are provided at 3% simple interest per year, with no payments due until the end of the 15-year loan term, or until the borrower moves out of the home or sells it, whichever occurs sooner. At that time the loan is payable in full. The loan funds may be used only for qualified home repairs or accessibility improvements, including work such as: correction of building or health and safety code violations, roof, siding, and window repair or replacement, weatherization, and installation of ramps and other equipment for disabled access. Eligibility requirements and maximum loan amounts vary, depending the type of home, and on the source and amount of funding available at the time of application. For very low income homeowners facing a sudden health and safety emergency in their homes, emergency repair grants of up to $7,500 may be available as well.
For more information or to apply for a rehabilitation loan, please call the Housing Authority at 464-0170 ext. 241. |