ROCKFORD, Ill. (WTVO) — The City of Rockford is offering forgivable loans to homeowners so they can make repairs on their homes or bring them up to code.
Homeowners can receive up to $60,000 through the Expanded Rehab Assistance Program to fix health and safety hazards, local code violations, or to meet accessibility needs through a three-year, forgivable loan.
Sarah Leys leads the program and says the funding comes from COVID relief dollars.
“[A priority will be] the families that had some sort of hardship because of the pandemic and were not able to make repairs to their home. So we’re looking for anyone that, if that describes them, to apply and then we will help them with the health and safety and accessibility and anything that they’re facing that might make them housing insecure,” she said.
To qualify, homeowners must meet the eligibility requirements which include the following:
- At-or-below 150% of the Area Median Income (AMI) based on household size
- Priority audience: 81% – 150% AMI
- Current on mortgage payments and property taxes
- Property must be a single family home
- All owners listed on the deed must live in the property
- Home cannot be valued at more than $151,000