Home Improvement Loan Program
The HOME Improvement Loan Program is a zero interest, deferred payment loan designed to assist low to moderate income homeowners with upgrades to their homes without negatively impacting personal budgets.
Exterior improvements are given the highest priority and may include the following:
Interior upgrades are eligible if exterior is up to code. These upgrades may include, but are not limited to:
- Electrical service
Garages are eligible if entire home is up to code.
This loan program is for low to moderate income owner occupants of single-family, two-family and three-family structures.
Applicant must meet the following federal income guidelines.
|Family Size||Gross Maximum Income|
- Owner-occupant must have owned the home for at least 5 years or have equivalent equity.
- Loan amount is based on the homeowners available equity (up to 100%).
- Home value cannot exceed $152,000 (1 unit), $195,000 (2 unit), or $236,000 (3 unit).
- All code violations must be corrected.
- Must be current on property taxes.
- Flood insurance is required if located in 100 year floodplain
If you pass the test and live in the target area, you may be eligible for a Home Improvement Loan!
An eligible contractor must be licensed in the State of Wisconsin.
All contractors must be certified and comply with Wisconsin Administrative Code Chapter HFS 163. Contractors must meet the definitions describing “Lead-Abatement Supervisor, Workers, and Companies”, HFS 163.03 (64),(65) and (66). Certifications must be current and comply with HFS 163.10, and work practices absolutely must comply with HFS 163.14, EPA, and OSHA.
Commercial General Liability Insurance on an “Occurrence Basis” with limits of liability not less than $1,000,000 per occurrence and/or aggregate combined single limit, Personal Injury, Bodily Injury, and Property Damage. The following insurance coverage must also be in place:
- Worker’s Compensation Insurance including Employer’s Liability Coverage as required by the State of Wisconsin
- Motor Vehicle Liability Insurance for all owned vehicles, all non-owned vehicles, and all hired vehicles. Minimum $500,000 combined Single Limit for Bodily Injury and Property Damage each accident
- Additional Insured: the certificate must name the City of Green Bay and the Redevelopment Authority as an Additional Insured for the project
- Lead and Asbestos abatement coverage