City offering home improvement loans
Family of four could earn up to $79,500 annually and still qualify

The city of Simi Valley is offering home rehabilitation loans for very-low, low-, and median-income homeowners up to a maximum of $30,000 with a low interest rate of 2 percent.

The city will also provide a grant of up to $2,500 to applicants who use a general contractor to manage three or more unrelated building trades for their rehabilitation project.

The loans are for owneroccupied single-family homes in need of repair.

To quality, household income must not exceed the median income limits set by the U.S. Department of Housing and Urban Development. A family of four could earn up to $79,500 annually and qualify for the program.

Depending on income qualification, the loan may be deferred or amortized. The amortized loan requires monthly principal and interest payments.

A $10,000 exterior home maintenance loan with zero interest is also available for eligible homeowners. These funds may be used for roofing, exterior painting to the repair or replacement of driveways.

All loans require repayment upon sale, refinance or transfer of property.

For more information and an application, call Cindy Daughtery at the Department of Environmental Services at (805) 583-6757.