Looking To Spruce Up Or RepairÂ YourÂ Portola HillsÂ Home?
If you own a home inÂ Portola HillsÂ California you may be eligible for the City's Housing Rehabilitation Loan Program.Â 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.Â 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.Â
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.Â
Â - applicants must live on their property
Â - may not have previously received a rehabilitation loan
Â - must have sufficient equityÂ on the home
Â - cannot exceed the asset limitations
Your current income and last two (2) years of income may not exceed:
|Â HOUSEHOLD SIZE||Â GROSS INCOME PER YEAR|
|Â 1||Â $64,790|
|Â 2||Â $74,030|
|Â 3||Â $83,270|
|Â 4||Â $92,510|
|Â 5||Â $99,880|
|Â 6||Â $107,360|
Dave Gubler / IML Real Estate
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