Looking to get assistance with home improvements?
Home Preservation Loan Program
The Housing Preservation Loan program provides low-interest loans to low- and moderate-income homeowners to repair their homes.
Types of eligible projects include:
- Health and safety improvements
- Septic replacement
- Sewer line connections
- Drain field repairs or installation
- Foundation repair/replacement
- Private water lines
- House structural repairs including: roof repair/replacement, foundation work
- Repair/replacement of substandard plumbing, electrical, siding, heating systems, hot water heaters, and other related activities
- Environmental hazard abatement, including asbestos removal, lead paint removal and mold/dry rot repair
Are you a contractor interested in helping your community by improving the quality of housing for those in need? Find out more here.
Household Eligibility Requirements
- Must own the land on which the home sits (not be rented land)
- Must be a owner-occupied house or manufactured home
- Must be a low- or moderate-income household
- Must reside in Crook, Deschutes or Jefferson counties, priority may be given to specific areas based on funding
- Must be current on property taxes
- Subject to waitlist or additional eligibility requirements defined when application is made available
- Must not currently have a reverse mortgage
- Household gross annual income cannot exceed the limits listed below:
Loan Limits and Terms
- Maximum Loan: $40,000
- Rate: Subject to change
- Assumptions: The loan is not assumable.
- Security: A promissory note and deed of trust will secure the loan.
- Loan to Value: Up to 100% combined loan to value (LTV)
- Fees: Vary, depending on funding source.
- Term: Deferred, or customized payment plans to fit your needs. Payment due in full when home is sold or refinanced or at 30 years maturity.
Interested?
Click here for an outline of the loan process
Click here to complete the eligibility questionnaire