What is the City of Concord Home Repair Program?
It provides low-interest rehabilitation loans and emergency grants to low-income homeowners in the City of Concord.
What are the maximum income limits?
Households earning at or below 80% of the Area Median Income (AMI). Please see the income chart to the right for the maximum income allowed per your household size.
Who is eligible for a loan or grant?
- Applicants must be the owner and occupant of the single-family home or mobile home.
- In addition to annual income limits, household assets must not exceed $20,000 for a single householder or $30,000 for a household of two or more. Assets are defined as: savings accounts, time certificates of deposit, equity in stocks or bonds, real property, or any other capital investments. Assets exclude the principal residence and other personal effects such as furniture, appliances and automobiles.
- The indebtedness (what you still owe plus the value of other loans secured by the property) on your home, including a rehabilitation loan, does not exceed 85 percent of its appraised value.
Please note that this program is offered to qualified households on a first application complete first served basis. Funding is limited therefore not all qualified applicants will be selected.
What are the types of loan and grants available?
Below are the types of loans and grants available and their maximum limits.
Single-Family Home Repair Loans: Loans up to $55,000
Emergency Repair and Accessibility Grants: Grants up to $10,000
Weatherization and Home Security Grants for Seniors (age 62+): Grants up to $2,000
Lead-Based Paint Abatement Grants: Grants up to $22,500
What are the types of work allowed?
- The correction of health and safety code items;
- Repair or replacement of roofs, electrical, plumbing;
- Bath and kitchen repairs;
- Replacement of damaged water heaters;
- Construction of ramps, railings, grab bars, etc. for handicapped accessibility;
- Insulation for attics and walls (for seniors only);
- Weather-stripping for doors and windows (for seniors only);
- Security lighting (for seniors only);
- Security doors and security screens (for seniors only);
- Energy efficient windows (for seniors only);
- Smoke detectors and carbon monoxide detectors (for seniors only); and
- Other related repairs as deemed necessary by the Housing Program.
What are the loan terms?
- Loan interest rate is fixed at 3%.
- Loans are repaid with regular monthly installments. The maximum loan term is 15 years. There is no prepayment penalty.
- Deferred payment loans require one large payment due upon maturity of specified payment date or upon sale or transfer of title, whichever is earlier. Deferred payment loans are available to senior (age 62+) or disabled homeowners and require the approval of the City of Concord’s Grants Manager.
- The maximum loan-to-value (LTV) ratio may not exceed 85%. This includes the City’s loan and all loans on the house. This ratio is based upon the after-rehabilitation value.
- Loans are secured with a Deed of Trust on the property. All existing liens will be evaluated to determine if the property can be used as security for the loan.
- Work must be completed by State-licensed, insured contractors.
Are there any other requirements?
Employment and income verification, title search and verification of homeowners insurance are required as part of the loan application. To complete eligibility screening, a title search, appraisal, and other reports (as needed) shall be ordered by the City and paid for on your behalf until your loan is processed. These charges can be included as part of your loan. If you cancel your application for any reason, you will be responsible for these charges. Estimated charges may cost up to $1,000.
Program Income Limits
|Income Limits: 80% of
Area Median Income (AMI)
Interested? here are some additional resources to help you get started
How do I apply?
Joey Shields, Hello Stewardship
1242 Market Street, 3rd Floor
San Francisco, CA 94102
BY FAX: (415) 813-6113
Attn: Joey Shields
BY EMAIL: firstname.lastname@example.org