Hometown Repair Program Eligibility Requirements

In order to qualify to receive assistance for this program, applicant(s) must meet ALL of the following criteria:

  • Applicant(s) must own and occupy, as your primary residence the property where the rehabilitation work is to take place for a minimum of 18 months prior to applying for the program.
  • Applicant(s) does not own or co-own more than one residence. Applicant(s) must not have any rental properties or have co-ownership in any rental properties.
  • Applicant(s) who have a claim pending or litigation pending for repairs contemplated by this loan is ineligible. 
  • The assessed value of homestead real property may not exceed $450,000 as determined by the Village using publicly available valuation data.  
  • Be current on all existing mortgage(s) and tax assessments. Applicant(s) must be in good standing with their mortgage lender. If the applicant is in forbearance, the applicant will be ineligible for the program. 
  • Applicant must close any open permits or code violations on the property prior to applying for this program unless repair is intended to correct the code violation or open permit. There should be no code enforcement liens on the property.
  • Applicant(s) must not be delinquent on the utility bill. The applicant must pay all outstanding bills prior to applying for the program.
  • Have a current homeowners’ insurance policy and agree to maintain homeowners’ insurance for the 7-year term of the loan. The homeowners’ insurance for the property requires a maximum deductible of $2,500 and a hurricane/wind storm deductible of 5% or have a policy that provides coverage that meets the assessed value of the property.
  • Total liquid assets, excluding homestead property, may not exceed $200,000. Annuities, Life Insurance policies, retirement accounts, etc. are all considered liquid assets. No asset transfers may be made within 24 months of the grant application submittal or during the application review process. Any lump-sum additions to family assets, such as inheritance, insurance payments (including payments under health and accident insurance and worker’s compensation), capital gains, and settlement for personal and property losses are considered liquid assets.
  • Have a household adjusted gross income that does not exceed 120% of the Area Median Income.

                           2022 MAXIMUM INCOME LIMITS

Household Size          Maximum Income (120% of the Area Median Income)

         1                                                   $77,280

         2                                                   $88,320

         3                                                   $99,360

         4                                                   $110,400

         5                                                   $119,280

         6                                                   $128,160

         7                                                   $136,920

         8                                                   $145,800

Source: U.S. Department of Housing & Urban Development. These income figures are subject to change annually.