Owner-Occupied REHABILITATION - This program is currently on hiatus and is being redesigned. We look forward to reopening this program in the near future.
The Housing Rehabilitation program provides assistance to owner-occupied households in which owners cannot otherwise afford to rehabilitate their homes. It was developed with low to moderate-income families, disabled, and seniors in mind. The program provides 4.75% simple interest loans to homeowners living in single family, townhomes or duplexes in need of repair or preservation. SMHO administers rehabilitation programs for both Littleton and Centennial homeowners. Loans are tailored to the homeowner’s ability to repay. SMHO services the loans, and repayment of the loan depends upon the homeowner’s debt to income ratio and their ability to pay. Monthly payments are designed to fit the homeowner’s budget. Repayment options can be designed as follows: interest-only payments until sale, deferred payments with interest due upon sale, or 100% grants for extremely low income households.
In 2011, the Board of Commissioners approved a rental rehabilitation program for landlords who wish to upgrade their rental properties. SMHO partnered with First Bank to bring affordable, fixed-rate interest financing to this program. The maximum loan available under this program is $50,000 per property.