THE HOME REPAIR PROGRAM
 

The UAACOG Home Repair Program provides low interest housing loans for low-income families living in Fremont, Chaffee, Lake, Custer, or Teller counties. The loans are provided to repair or replace existing owner-occupied homes. Community Development Block Grant (CDBG) funds are used to fund the loans.


Types of housing problems we can help with:

  • Leaking Roof
  • Electrical System
  • Plumbing System
  • Leaking Water Lines
  • Septic System
  • Exterior/Interior Deterioration
  • Crumbling Foundation
  • Sagging Floors
  • Overcrowding
  • Cracking and Peeling Paint
  • Heating System
  • Energy Efficiency Upgrades
  • Handicapped Accessibility


General Program Information:

  • All residences, including manufactured homes, must be permanently attached to a proper foundation and be taxed as real estate.
  • Manufactured homes on rented lots are eligible for up to $3,000.00 in repairs.
  • Health and safety issues will be addressed first.
  • Cosmetic repairs can be made after any code, health, and safety issues are corrected. Cosmetic repairs cannot be more than 20% of the total loan amount.
  • Application requires documentation of income and expenses for the last 12 months.
  • The Home Repair Program records a lien on the property being repaired.
  • All judgments must be cleared up before time of application. Bankruptcies should be at least 2 years in the past. Credit will be checked.
  • CDBG Funds may not be used for refinancing a current mortgage. The total of all the liens cannot be more than 95% of the property's value.


How the program works:


Step One:A completed loan application and all required documentation is submitted to the Home Repair office by the client. The Home Repair Loan Officer will verify eligibility.
Step Two:A UAACOG Home Repair Specialist will inspect the home then prepare a work-write up listing items needing rehabilitation. The write-up and cost estimate will be submitted to the UAACOG Home Repair Loan Committee for approval or denial.
Step Three:The UAACOG and/or the client will obtain bids from approved contractors.
Step Four:The UAACOG staff and the client will review the bids.
Step Five:Loan documents are signed.
Step Six:The contractors start work on the home.
Step Seven:When all contracted work is completed, it is inspected and signed off by all parties.
Step Eight:The client starts making loan payments.

Program Loan Provisions

  • Low interest rates - 1% to 6%
  • Loan terms - 1 to 30 years
  • Maximum loan amount - $24,999.00
  • Minimum loan amount - $1,000.00
  • Loans are not assumable

Fremont , Chaffee, Custer & Lake Counties
1 person 2 people 3 people 4 people
Low $37,700 $43,100 $48,500 $53,850
5 people 6 people 7 people 8 people
Low $58,200 $62,500 $66,800 $71,100
Park County
1 people 2 people 3 people 4 people
Low $50,350 $57,550 $64,750 $71,900
5 people 6 people 7 people 8 people
Low $77,700 $83,450 $89,200 $94,950
Teller County
1 people 2 people 3 people 4 people
Low $45,200 $51,650 $58,100 $64,550
5 people 6 people 7 people 8 people
Low $69,750 $74,900 $80,050 $85,250

 

For More Information

 

Contact Erlin Trekell or Kevin Schenk at (719) 275-4191

erlin.trekell@uaacog.com