The
Housing Reconstruct Loan Program provides money to low income
families to rebuild a house on an existing site only when repair
costs are too high or cost more than new construction.
Some restrictions apply.
The
Housing Reconstruct Loan Program takes affect when the house
does not qualify for the Housing Rehabilitation Loan Program.
General
Terms
The
reconstruction loan is subject to underwriting guidelines
with a fixed interest rate of up to three percent (3%). Unpaid
funds are due upon the sale of property or transfer of ownership. The property must be located within the
Stockton city limits.
New HUD Income Limits for 2008