This nice spring weather has people thinking again about home improvements, my family included. But many households aren’t able to make improvements, because of the cost.
The City of Marshfield has a Home Rehabilitation Program that provides financial assistance to property owners to help make homes energy efficient or repair unsafe conditions, as well as aid for first-time home buyers.
The first, Owner Occupied Rehabilitation Loan, pays for the repair and maintenance of housing within the city limits. The loans are zero percent interest with deferred payment until the applicant no longer owns the property. Loans can be used for electrical, windows and doors, roofing, plumbing, insulation, furnace or water heaters and other repairs that increase the energy efficiency of the house or improve its condition.
So who can take advantage of this program? Property owners are eligible if they fall at or below 80% of the County Median Income. Some examples of these income guidelines would be a single individual with an annual income of $35,200 or less, and a family of four’s income must be at or below $50,250. Homes seeking improvements must be in the City of Marshfield and there needs to be some available equity in the home to secure the improvements made to the property.
The second program is Rental Rehabilitation Loans. The program includes the same types of improvements as the owner-occupied program, but the property owner does not need to be income qualified. However, the landlord needs to agree to rent to low-income residents for at least five years and rents charged must fall within HUD’s rental guidelines. These are zero percent interest loans, and are not deferred loans.
The third program is a first-time Home Buyer program. The incomes limits apply and the home being purchased must be in the city limits of Marshfield. This program helps with closing costs and down payment. The loans are zero percent interest and deferred until the applicant no longer owns the home.
Lastly are loans that help with handicap accessibility. These loans provide ramps and other accessibility improvements. Again these loans are zero percent interest and deferred until the applicant no longer owns their home.
This year, don’t ignore your home maintenance to-do list. If you think you meet the requirements, find out more information. If you have questions about the loans or eligibility, contact Marshfield Area United Way at 384-9992.
Paula Jero, Marshfield Area United Way Executive Director can be reached at 384-9992 or e-mail unitedway dot paula at solarus.net.