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Housing Rehabilitation
(Rehabilitation Loans for Homeowners)
Low-interest rate loans are available to assist
qualified low-income homeowners who require rehabilitation for their homes. The Pasadena
Community Development Commission funds two loan programs which are administered by
Pasadena Neighborhood Housing Services, Inc. ("PNHS"), a private, non-profit,
community-based housing organization.
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Neighborhood Impact |
This
program is available to assist qualified homeowners in Northwest Pasadena. The maximum
loan amount is $25,000. Interest rates and loan terms are based on the borrower’s
ability to repay the loan. |
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Homeowner Residential Rehabilitation |
Loan funds under this program will be provided by local banks, with the
Pasadena Community Development Commission providing interest rate write-down subsidies.
The property can be a 1-4 unit dwelling or a condominium. Borrowers must occupy the
property as their primary residence. The maximum loan amount is $25,000 but may be
increased for properties requiring substantial rehabilitation.
For more
information on the Neighborhood Impact or Homeowner Residential Rehabilitation loan
programs, please contact PNHS at 456 W. Montana Ave., Pasadena, CA 91103; (626) 794-7191
or (213) 684-8205. |
| Maintenance Assistance
and Services to Homeowners
("MASH") |
This
program provides services to low-income senior or disabled homeowners who are not able to
perform deferred maintenance on their owner-occupied, single-family homes. The MASH
program is comprised of: 1) exterior painting, trim work, and minor repairs; 2) weed
abatement; 3) code violation problems such as broken glass and screens, and rat proofing;
and 4) installation of wheelchair ramps.
For
further information, please contact the MASH program, City of Pasadena, (626)
744-7620. |
| Rehabilitation Loans for Multi-Family Rental
Properties |
The
Pasadena Community Development Commission provides loan assistance for rehabilitation of
multi-family rental properties which are occupied by very low and low income tenants
paying affordable rents. The loan term is determined by the amount of loan funds utilized
on a per-unit basis. The interest rate is 4% and repayment schedules are determined by the
project’s cash flow. A rental covenant to maintain rent affordability is enforced
during the loan term.
For further information on this program, please contact
Stella Lucero, Program Coordinator, Housing Division at (626) 744-8314 or e-mail to:
slucero@cityofpasadena.net
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