July 30th, 2010 5:46 PM by Dave Gubler
Looking To Spruce Up Or Repair Your Foothill Ranch Home?
If you own a home in Foothill Ranch (or Lake Forest for that matter) you may be eligible for the City's Housing Rehabilitation Loan Program. 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. 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. Eligible RepairsEligible 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. Requirements- applicants must live on their property- may not have previously received a rehabilitation loan- must have sufficient equity on the home - cannot exceed the asset limitationsIncome RequirementsYour current income and last two (2) years of income may not exceed:
If you have any questions regarding the Housing Rehabilitation Loan Program, or would like to request an application, please call the city at 949-461-3473.
Dave Gubler / IML Real Estate
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