I. EMERGENCY GRANT PROGRAM

Maximum $10,000.00 assistance per single family owner occupied dwelling unit for damages incurred within past 60 days due to Act of God type emergencies.

EXAMPLE: Wind damage, sudden well failure, falling tree, lightning, fire, etc.

If owner has insurance coverage, we will pay the deductible. If no insurance coverage, we will pay for entire job up to $5,000 limit.

Total household income must be less than the 50% low-income limits set by H.U.D. for Lake County.

II. CDBG RENTAL REHAB LOANS

We loan 100% of money necessary to rehabilitate two or more family residential units, which are primarily rented to very low to moderate income tenants. Rents must be “affordable”.  For this purpose “affordable rents” cannot exceed the HUD Fair Market Rents for the area or 30% of the tenants gross income, whichever is less. We will loan no more than $20,000 average per unit in any one building. Interest rate is 3%, twenty-year term. Non-returnable $100.00 application fee.

III. DEFERRED PAYMENT LOAN PROGRAM

These are 0% deferred loans made to low-income owner-occupied single-family residences. Total income in the household must not exceed the 50% low-income limits established by H.U.D. Code items and energy efficiency improvements only. Owner may subsidize our loan by paying for additional repairs. Repayment is principal only anytime ownership of home is transferred. Maximum loan is $30,000. 

IV. LOW INTEREST LOANS

For owner occupied single-family homes. Interest rate is 3% twenty-year for owners whose income limits for the area as established by H.U.D. House must meet all codes after rehab. Up to 40% of the loan can go toward non-code improvements. Maximum loan is $30,000.

The Homeless Prevention Program provides one-time financial assistance to lower income renters or mortgagors who are in default of their monthly payment. Proof of default and/or eviction is required.

For Foreclosure Assistance1-877-GET-HOPE
www.877gethope.org 

The Homebuyer Assistance Program is designed to assist households with overcoming what is usually the biggest hurdle to such households purchasing a house: the initial cash layout (e.g. down payment, fees, closing costs, etc.). Under this program we will assist qualified households whose income does not exceed the 80% moderate-income limits for the area as established by HUD. The maximum assistance available is $5,000 per household for qualified buyers.

Income Limits are Subject to change each year around April or May per HUD Guidelines, contact the office for current figures during that time 

NOTE: Lake County Community Economic Development Department’s Entitlement Area consists of: