The Larimer Home Improvement Program, a program of the Housing Authority of the City of Loveland, was awarded $597,000 for repair and rehab of existing homes in Larimer County.
Funds are available to Larimer County residents who own their home, earning no more than 80 percent of the area median income, or $61,350 for a family of four. The loans must be used for health, safety and energy efficient repairs. Eligible homeowners can borrow up to $24,999 at an interest rate of 0 percent to 5 percent based upon the borrower’s income and length of the loan.
Qualification for the loans is easier than a traditional loan or second mortgage, with several factors being considered, not just credit scores. Borrowers can not have any judgments or outside liens on their property and can’t be in foreclosure. They must have home owners insurance and property taxes paid to qualify.
Applications are being accepted now and funding is available on a first come, first serve basis. The program serves all of Larimer County including Loveland, Ft. Collins, Berthoud, Wellington, Estes Park and all rural areas.
Call Amy Irwin, Loveland Housing Authority, 970-635-5931, for more information and to reserve funds. Visit the Housing Authority’s website at www.lovelandhsg.org for a list of qualifications and full application.