HPDL offers very low interest loans – at 3% – for both single family and owners of multiple unit properties in the neighborhood. Participants’ income cannot exceed 150% of the area median income. Eligible improvements include corrections of housing code violations, energy efficiency improvements, sound insulation improvements, and improvement of the physical condition of the property to enhance livability. Recreational or luxury improvements are not eligible. The term of the loans is 5 years and can range from $500 – 5,000.

Emergency Deferred Loan

What happens to low-income folks whose furnace dies in the middle of winter or whose roof is leaking? This program hopes to address such problems. If the house may be uninhabitable, extremely dangerous or capable of causing severe health problems, and if the resident’s income does not exceed 50% of the area median income, then this program may be able to help. Loans are forgivable if resident stays in home for five years. Maximum loan size is $5,000.

Accessibility Deferred Loan

Residents with a long-term disability and who lack the resources to make accessibility improvements to their homes may apply for this forgivable loan program. Income limit is 110% of the area median income and the minimum loan size is $2,000. The maximum loan is $7,500, but if the resident’s disability was incurred while in the United States Armed Forces, that resident may apply for a loan up to $15,000. Many state and county programs may apply for home accessibility improvements, so residents are encouraged to pursue these sources first or in conjunction with an HPDL loan. Loans are forgivable after 7 years if the resident retains ownership of the property for the duration of that time. Examples of accessibility improvements are: widening doorways, installing automatic door openers, lowering counters, or exterior modifications such as installing ramps and stair lifts.

For more information about these Programs, call the Greater Metropolitan Housing Corporation at (612) 722-7141.