Dayton's Bluff Neighborhood Housing Services
Serving the Dayton's Bluff Neighborhood since 1980
Services > MHFA Rehab Loan Program
MHFA Rehabilitation Loan Program
*This program is currently out of funding. Applicants for this program will be placed on a waiting list.*
Purpose: Loans to resident homeowners for basic and necessary home improvements.
* Residence: Applicants must own the property and it must be their principal place of residence.
* Assets: Assets may not exceed $25,000
* Maximum income: Income limits vary by household size. Income may not exceed $24,700 for a family of 4.
* Deferred loan with no monthly payments
* 0% interest rate
* Maximum loan amount of $27,000
* Loan is forgiven after a period of fifteen years of continued homestead, unless:
* Property is sold prior to the 15 year period
* In the event the title of the property is transferred, or
* The property ceases to be the homeowner's principle place of residence
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