Using special federal and local housing funds, the City of Lakewood is offering grants of up to $3,000 and interest-free, deferred-payment loans up to $18,000 for low-to-moderate income residents to repair and rehabilitate their homes.
Hundreds of Lakewood residents have successfully used the city-run program to make needed repairs they otherwise would not have been able to afford. Often times it is a senior living alone on a low, fixed income. Other times it is a family struggling economically. The smaller $3,000 grants never need to be paid back. The larger loans only need to be paid back when the house is sold or refinanced or the title is transferred. Income limits are set by state law and are $54,450 for a resident living alone, and $77,750 for a family of four. (Income limits adjust based on family size.)
The larger loans can help with improvements such as:
• roofing or flooring repair or replacement
• electrical or plumbing upgrades
• kitchen or bathroom remodeling
• fumigation or repair of termite damage
• HVAC repair and installation
• stucco, door or window repair or replacement
• exterior or interior painting
The smaller grants can help with exterior painting and minor repairs to windows, doors and stucco.
The home must be a single-family, owner-occupied dwelling in Lakewood. Other restrictions apply. The program is designed to help low-to-moderate income residents make needed repairs to their homes and to maintain and improve the look of Lakewood neighborhoods.
For more information, call Lakewood City Hall at 562-866-9771, extension 2320 or go to www.lakewoodcity.org/HomeRehabProgram.