Popular loan program provides low interest (1.75%) for home rehabilitation to qualifying 1-4 family properties
Arlington, Mass – The Town of Arlington Home Rehabilitation Loan Program, today announced that it is expanding its loan program to include non-owner occupied 1-4 family properties, providing that 51% of the tenants meet the required income guidelines.
These loans can aid the landlord and/or owner occupants in mitigating conditions detrimental to the occupant’s health or safety while improving the housing stock. Eligible work includes, but is not limited to correction of code violations, accessibility improvement, lead paint abatement, energy conservation, repair or replacement of heating systems, chimneys, roofs, gutters, foundations and walls.
“These low interest loans provide a vehicle for those on a fixed income, or modest income to bring their homes up to today’s standards, while providing safe and healthy living conditions,” said Gail Waitkunas, Senior Loan Officer, Town of Arlington. “Not only do these loans enable low income residents the ability to stay in their homes, the new extension to non-owner occupied properties provide increased quality of life for the tenants.”
To qualify for a loan, the home owner, or tenant must be at or below 80% of the area medium income as defined by HUD.
For more information and income guidelines please call Gail Waitkunas at 781-316-3436 or visit www.arlingtonma.gov/weatherization.