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Stockton All-America City 1999

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Revitalization - Housing: 425 N. El Dorado St (City Hall), 3rd FloorStockton, CA 95202 (209) 937-8539

Rental Rehabilitation Loan Program


Renovated Kitchen

***As of August 4, 2009, the Rental Rehabilitation Loan Program is unavailable****

Funds are available to make needed repairs to rental properties.  HUD mandated rent, occupancy, and affordability requirements apply to units; meaning that HUD requires the owner to rent the units for low-income housing.

Type of repairs under the program include interior and exterior improvements to bring the property to City of Stockton Building Code Standards,as amended and adopted, including roof, water heater, plumbing, electrical, sewer, and outside improvements. 

General Terms

(As of 12/5/08)

This is a one percent (1%) simple interest, 30-year loan (first payment may be deferred for one year from date of recordation and then amortized over the life of the loan).  Loan to Value Ratio cannot exceed 90%.  Income to Debt Ratio cannot exceed 105% and must conform to HUD guidelines for affordability periods.  Tenant affordability restrictions apply.

 

Funds may be used for hard or soft costs for rehabilitation, site improvements, and security upgrades.  All work must be performed by a licensed contractor.   

 

 

 

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For more information contact:

City of Stockton Revitalization Department

Housing Division

425 N. El Dorado Street, Third Floor

Stockton CA, 95202

Phone (209) 937-8539

Fax (209) 937-5099

Para asistencia en español: (209) 937-8535


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