Rehabilitation loans, both deferred and repayable, are available at zero percent and three percent interest for the actual cost of rehabilitation. However, the cost of repairs cannot exceed $60,000. You can take up to 20 years to repay the loan.
Minimum Eligibility Requirements
- Your home is within Greensboro city limits.
- You own and occupy your home.
- Credit check and loan qualification is required.
- Equity in the property must exceed the combined total of the rehab loan.
- Your family income cannot exceed 80 percent of the area median income adjusted for family size (see income chart in application).
- Other eligibility criteria also apply.