Home Rehab

DEL NORTE NEIGHBORHOOD DEVELOPMENT CORPORATION
OWNER OCCUPIED HOME REHABILITATION PROGRAM

Program Information Sheet

The Owner Occupied Home Rehabilitation Program provides loans and grants to low income home owner/occupants. Depending on the program, the loan amount is up to $15,000, and the grant amount is up to $5,000.

Loans are structured as follows:

Households with verified incomes at or below 30% of the Denver median income will qualify for a deferred principle, 0% interest loan, forgiven after 10 (ten) years.

Households with verified incomes greater than 30% but equal to or less than 80% of Denver median income will qualify for a pay back loan, amortized over ten years, payable in equal amounts monthly, with 0% interest.

Grants are structured as follows:

In addition to a loan, certain properties may qualify for a grant. These grants are funds which are forgiven at the end of construction. Grants are not guaranteed. Certain grants may have restrictions.

Households with verified incomes greater than 80% of the
Denver median income do not qualify for these programs

?Qualifying Criteria:

1. Applicant must occupy and own home with name on title.
2. Applicant must earn 80%, or below the Denver median income.
3. The home must lie within the specified program boundaries.
4. The after rehab value of the home may not exceed 95% of the Denver area median income.
5. Liens on the home may not exceed 80% of the home value.
   
6. Applicant must complete a credit report request form.
7. Applicant must acknowledge receipt of a lead based paint disclosure and participate in LBP hazard reduction.
8. Applicant must maintain insurance on the Project property, including flood insurance, if needed.
9. Applicant must actively participate in the Program procedures.

Improvement Standards:

All home improvements are made in compliance with the Denver Building Code, the Secretary of the Interior's Standards for Archaeology and Historic Preservation, and Del Norte Neighborhood Development Corporation.

Improvements will be made in the following order of priority:

Exterior Improvements			?? Interior Improvements
1. roofs	7. doors		????? ? 1. plumbing	5. floors
2. foundations	8. security		?????????? 2. heating	6. walls
3. walls	9. porch repair		?????????? 3. electrical	7. bathrooms
4. gutters	10. paint		?????????? 4. weatherization	8. kitchens
5. tuck pointing	11. landscaping
6. windows	12. fences

Del Norte Neighborhood Development Corporation and its employees do not discriminate against nor deny full participation of a person otherwise qualified on the basis of race, color, creed, religion, national origin, gender, age, military status, veteran status, sexual orientation, marital.

For income guidelines and more information about this program
please contact Diane Vollmer at 303-477-4774 ext. 22