The Homestead Opportunity Program and The Homeowner Rehabilitation Program
The City of Delavan Community Development Block Grant Program (CDBG)
The City of Delavan Community Block Grant Program is a local program designed to encourage new homeownership and rehabilitation of owner occupied housing within a targeted area. Community Action, Inc. is acting as the Program Administrator. Program funds originally came from the U.S. Department of Housing and Urban Development (HUD) Community Development Block Grant Program and are currently available through a revolving loan fund generated by periodic loan repayments. Activities included in the program are the Homestead Opportunity Program and the Homeowner Rehabiliation Program.
The Homestead Opportunity Program
Having trouble coming up with downpayment and closing costs for a home?You may qualify for The Homestead Opportunity Program.Are you paying monthly rent equal to the monthly mortgage on a home? Are downpayment and closing costs keeping you from realizing your dream of owning your own home? The City of Delavan’s Homestead Opportunity Program may be the answer. This program offers downpayment (up to 50%) and eligible closing cost assistance for the purchase of a home, and housing rehabilitation to be credited towards the equity. All home buyers must be low to moderate income or very low income households. (See income eligibility table).The loans are zero percent interest and repayment is deferred until the sale or transfer of the property.
The Homeowner Occupied Rehabilitation Program
Does your home require repairs or improvements? Ask about our Homeowner Occupied Rehabilitation Program.Do you own a home in the Delavan area that you would like to improve or rehablilitate?You may qualify for the City of Delavan’s Homeowner Occupied Rehabilitation Program. This program offers loans to make improvements to the homes of eligible homeowners. Eligible activities include:- Roof replacements- Upgrading electrical service- Upgrading plumbing- New siding- Window replacement- Painting- Carpets- Code Requirements.Handicap accessibility improvements/alterations and lead based paint abatement are also eligible rehabilitation activities.The loans are zero percent interest and repayment is deferred until the sale or transfer of the property.All applications are scored using a point system based on pre-established criteria and approval/denial is decided by a Loan Approval Committee based on total score.
For addtional information contact:
Equal Housing Opportunity
This publication and/or the activities described herein were funded by the State of Wisconsin, Department of Administration, Division of Housing.