The city of Austin, Texas is proud to offer a unique loan program designed to help homeowners in need of rehabilitation and repair. The Austin Home Rehabilitation Loan Program is a great way to get the help that you need to make necessary repairs and upgrades to your home.
This loan program is available to all homeowners in Austin, regardless of income level. It is designed to help those who may not qualify for traditional loans due to bad credit, lack of income, or other factors. Homeowners can borrow up to $40,000 at a fixed interest rate of 6.5%. The loan term is 10 years and there are no prepayment penalties or fees.
The loan can be used for a variety of repairs and upgrades, including roof replacement, window or siding replacement, plumbing and electrical repairs, or energy efficiency upgrades. The loan can also be used to help with code violations or to make improvements that will improve the home’s value. All repairs must be completed by a licensed contractor and the loan must be repaid within 10 years.
The Austin Home Rehabilitation Loan Program is a great way to get the help you need to make necessary repairs and upgrades to your home. Not only can it provide you with much needed funds, but it can also help you increase the value of your home. If you are a homeowner in Austin and are in need of repairs or upgrades, this loan program is definitely worth looking into.