HOW MUCH MONEY ARE WE ALLOWED TO BORROW FOR A CITY OF SIMI VALLEY HOME REHABILITATION LOAN?
Up to $30,000 with terms of 15 years accruing interest at 6.5% below market rate with a minimum interest rate of 2% for fully amortized loans or a 2% simple interest rate for deferred loans. The money can be used for eligible repair items such as heating and air-conditioning, painting, plumbing, electrical, and bathroom and kitchen modifications to name a few. The Program also offers a $10,000 0% interest loan to address exterior needs such as dual glazed retro fit windows, driveway repair, replacement of roof, gutters, stucco, in addition to exterior painting.
Related Questions
- I PURCHASED A HOME WITH AN UNPERMITTED ADDITION OR GARAGE CONVERSION. CAN I USE MY CITY OF SIMI VALLEY HOME REHABILITATION LOAN TO BRING IT ALL UP TO CODE?
- IS IT TRUE THAT THE CITY OF SIMI VALLEY PROVIDES A GRANT FOR CLOSING COSTS THROUGH THE FIRST TIME HOME BUYER PROGRAM?
- Why should I use a home equity loan for my home renovation project?
