The Essential Home Repairs Program

This program is designed to assist Arvada homeowners in making needed repairs and energy saving improvements to their homes. It provides forgivable and deferred  loans, as well as technical assistance and contractor supervision to assure the work is performed to specified standards.

WHAT KIND OF HOME REPAIRS QUALIFY FOR THE PROGRAM?

Work which may be eligible under this program includes, but is not limited to                         

Roofing	Structural	Gutters
Plumbing	Heating	Electrical
Water Heaters	Floor Coverings	Ceramic Tile
Kitchen & Bath Fixtures	Kitchen & Bath Sinks	Doors & Storm Doors
Windows	Painting	Air Infiltration
Lead Hazard Controls	Drains/Distribution Lines

    

  WHO IS ELIGIBLE TO PARTICIPATE IN THE PROGRAM? Your eligibility will be determined primarily on the basis of the following factors: Your home must be a single-family residential structure.

• You must own or be buying your home.
• You must live in your home as the primary residence.
• Your annual family income cannot exceed a specific income (Listed below).
• You must meet bank requirements regarding credit worthiness and financial condition for the 0%, 3%, and Prime Rate Loans.

WHAT TYPES OF AWARDS ARE AVAILABLE?

The maximum amount of the following awards is $30,000.

• FORGIVABLE LOAN: No repayment is required if you reside in your home for 10 years from the time the forgivable loan is signed. Available for elderly and disabled only.
• DEFERRED LOAN: Reimbursement must be made upon sale or disposition of the house.
• 0% INTEREST LOAN: The amount borrowed (principal) is all you repay within 10 years.
• 3% INTEREST LOAN: The amount borrowed plus 3% annual interest must be repaid within 10 years.
• PRIME RATE LOAN: The interest rate charged is the current prime rate or 5%.  

  2011 MAXIMUM GROSS INCOME GUIDELINES

Household size	Deferred Loan & Grant* *Grant= over age 62, and/or disabled	0% Interest Loan	3% Interest Loan	Prime Rate  Loan
	(50% AMI)	(67%AMI)	(80%AMI)	(130% AMI)
1	27,400	36,716	43,800	71,240
2	31,300	41,942	50,050	81,830
3	35,200	47,168	56,300	91,520
4	39,100	52,394	62,550	101,660
5	42,250	56,615	67,600	109,850
6	45,400	60,836	72,600	118,040
7	48,500	64,990	77,600	126,100
8	51,650	69,211	82,600	134,290

based on 2011 area median income (AMI) for Denver area

http://www.huduser.org/portal/datasets/il/il11/index_il2011.html 

If you would like more information, please call:

Housing Rehabilitation Specialist
Telephone: 720-898-7498

Housing Services Specialist
Telephone: 720-898-7496

Monday through Friday 8:00 AM to 5:00 PM