The Home Rehabilitation Loan Program offers zero-interest and deferred payment rehab loans to income-qulaified owner-occupants. The property must be located in a City of Milwaukee Target Investment Neighborhood.
- Exterior code-related repairs such as roofing, siding, porch repairs
- Lead paint abatement including replacement windows
- Energy conservation
- Plumbing, electrical, heating
- Kitchen, bath, and other remodeling are possible
The property must meet building code requirements upon completion of the rehab.
Income Guidelines (Effective 02/05/2014 until next update)
Eligibility is limited to clients with household income no greater than:
Experienced rehabilitation specialists perform a thorough inspection of the property, identifying problem areas. The rehab specialist writes a scope of work (a list of the work that needs to be done) and helps owners get bids from contractors. Once the work starts, the rehab specialist makes periodic inspections to make sure the work meets program requirements.
Things you should know:
- Your real estate taxes must be current or paid in full. If you are on the installment plan, you can't be delinquent.
- We will look at the amount of mortgage debt you have against your property.
- We will order a credit report and will review your credit history.
- If you have declared bankruptcy, your bankruptcy must be discharged within 6 months prior to your application. You should have a satisfactory
credit history since the discharge.
- If you have received previous loans from NIDC or the City of Milwaukee, your application will be reviewed on a case-by-case basis.