Housing Program Services
Housing Rehabilitation Loan
En Español
The City of Turlock’s Rehabilitation Loan program helps Home Owners and Investors preserve and upgrade their home(s) with a low interest loan. These funds are made possible through the Community Development Block Grant Funding program. The following information is a general over view of the program.
Funding Availability Status:
Applications are being accepted.
How do I qualify for assistance?
Home Owners:
- Live in a home located within the city limits of Turlock that needs repair.
- Income at 80% or below the median for Stanislaus county. Qualification depends on the number of people in the family and is subject to change. See the following income table.
| Income Table |
(
HUD May 17, 2010
) |
| Number in Family |
80% of the Median income for Stanislaus County |
| 1 |
$33,350 |
| 2 |
$38,100 |
| 3 |
$42,850 |
| 4 |
$47,600 |
| 5 |
$51,450 |
| 6 |
$55,250 |
| 7 |
$59,050 |
| 8 |
$62,850 |
Investor Owned:
- Tenants must live in a unit within the city limits of Turlock and have income at 80% or below the median for Stanislaus county.
- Investor must demonstrate the ability to repay the loan while maintaining affordable rent.
- Have good credit.
What work can be done with the loan money?
A home is an investment that brings joy to a family and must be protected from the weather and normal wear.
A home will deteriorate quickly if not maintained. The following are some of the areas that can be repaired with loan funds:
Electrical
Plumbing
Roofing
Broken Windows
Foundation
Pest Control
Interior/ Exterior Paint
Floor Coverings
Fencing
Bathroom & Kitchen Remodel
Some improvements that can not be done are:
Barbecue Pits
Greenhouses
Kennels
Swimming Pools
Free-Standing Kitchen Appliances
Spas
Sprinkler Systems
What are the loan interest rates?
Housing Rehabilitation loans are available at the following annual percentage rates for a term of up to 20 years.
Home Owner: 5% interest
Investor Owned: 6.5% interest
The loan amount is determined by the scope of the work to be performed or the amount of equity remaining (90% loan to value), which ever is less.
A deferred payment plan is available for Home Owners with very low income (50% of the median income) and seniors (62 years old or older).
How do I get started?
Call the Housing Program Services Division today at (209) 668-5610 or TDD 1 800 735-2929 for more information.
The Staff will:
- Assist you with application forms.
- Perform an on-site survey of your property; work with you to determine what repairs need to be addressed.
- Obtain bids from qualified contractors.
- Monitor the construction process.
