SINGLE FAMILY REHABILITATION LOANS
The City of Sunnyvale offers low interest home repair loans to Sunnyvale residents with low to moderate income. Maximum loan amount is $60,000 for a 15 year loan. Interest rates vary depending on income. The loans can be used for the following necessary repairs:
|
*Electrical |
*Plumbing |
|
*Roofing |
*Heating |
|
*Weatherization |
*Bath Remodel |
|
*Kitchen Remodel |
*Structural Reinforcement |
The following table shows the income (gross annual) requirements and corresponding interest rates:
|
Rehabilitation Loan Income Guidelines
Effective February 1, 2006 |
|
Family Size |
Income Limit (Gross Annual) |
|
3% Interest Rate |
4% Interest Rare |
5% Interest Rate |
|
1 Person |
$37,150 |
$48,275 |
$59,400 |
|
2 People |
$42,450 |
$55,175 |
$67,900 |
|
3 People |
$47,750 |
$62,075 |
$76,400 |
|
4 People |
$53,050 |
$68,975 |
$84,900 |
|
5 People |
$57,300 |
$74,475 |
$91,650 |
|
6 People |
$61,500 |
$80,000 |
$98,450 |
|
7 People |
$65,800 |
$85,525 |
$105,250 |
|
8 People |
$70,050 |
$91,050 |
$112,050 |