®*'* Ç ortlanh (Bbsertier
January 8, 2014
Page
Basic repairs and upgrades are needed for many older homes. The city of Vancouver is offering low interest loans to help with the cost of repairs for Qualified low-
income homeowners.
H
Loans for Home Repairs
Vancouver program for qualified homeowners
The city of Vancouver is of
fering housing rehabilitation loans
of up to $25,000 to qualified low
income homeowners for basic
repairs and upgrades, including
plumbing problems, structural
deficiencies, w eatherization,
electrical or mechanical issues
or cosmetic improvements.
The 3 percent simple interest
loans do not require monthly pay
ments and are paid back when
the home is refinanced, title trans
fers to another ow ner or the
owner no longer lives in the home.
The goal of the program is to
better preserve existing housing
in Vancouver. Funding for the
loans is provided by the United
States Department of Housing
and Urban Development.
T o q u a lify fo r a lo a n ,
homeowners must live within the
Vancouver city limits and meet
the income and asset limits.
The income limits are $38,850
for single person households;
$44,400 for two person house
holds; $49,950 for three person
households; $55,500 for four
person households; and $59,950
for five person households.
Some exceptions can be made
on a case-by-case basis. For
more information or to apply for
a housing rehabilitation loan, visit
c ity o f v a n c o u v e r .u s /
housingrehab, or contact Peggy
Sheehan at 360-487-7952.
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