| Program Guidelines
Interest rates are based on the income of the household and the targeting criteria of the participating community. The current interest rate is 5%.
The maximum loan amount is $35,000, with a maximum loan term of 20 years. Loans over $10,000 must be secured with a mortgage. Loans are not assumable and are due upon sale of the property. Properties must be owner-occupied, one-to-four units, and taxed as real property. |