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

Loan Limits and Terms

  • Maximum Loan: $40,000
  • Rate: 4% APR
  • 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 to complete the eligibility questionnaire