SINGLE-FAMILY REHABILITATION LOAN PROGRAM

The Single-Family Rehabilitation Loan Program assists low-income (80% of median income or less) owner-occupied property owners with one to two units in need of rehabilitation. The maximum loan amount is $25,000, at 3% simple interest rate, for one-unit properties and $50,000 for two-unit properties.

Two types of financing are available to borrowers: A deferred loan, which has a 10-year term with no monthly payments. Loans will be due and payable upon the sale, transfer, or refinancing of the property.

The other loan option is an amortized loan which has a 15-year term with monthly payments. The Commission may also enter into Memorandum of Understanding with CDBG participating cities to provide single-family rehabilitation loan assistance. Property must be in unincorporated areas of L.A. County or participating cities. For eligibility, check the Los Angeles County median income guidelines.
For more information, call (323) 890-7244.