El Paso County Rehab
The Housing Development Division administers the El Paso County Housing Rehabilitation Program on behalf of the El Paso County Housing Authority. The program provides low interest rate loans to improve health, safety, energy conservation, and structural deficiencies.
Assistance is made available to owner-occupants living in modest-valued single family homes located in El Paso County, outside the city limits of Colorado Springs. Capacity and willingness to repay the loan are required. Household income must be within the income limits described below.
Loans at 1%, 3%, and 5% will be available based on household income and size. The maximum loan amount is $20,000 and must be sufficient to bring the home up to standard. The term of the loan is determined on a case-by-case basis not to exceed 20 years. All loans are evidenced by a Promissory Note and secured by a Deed of Trust on real property. Mobile Homes must be on a permanent foundation and you must own the land.
Rehabilitation must be performed by an approved trade contractor.
2009 Income Guidelines
|
Household Size |
1% |
3% |
5% |
| 1 |
$24,800 |
$32,240 | $39,650 |
|
2 |
$28,300 |
$36,790 |
$45,300 |
|
3 |
$31,850 | $41,405 | $51,000 |
|
4 |
$35,400 | $46,020 | $56,650 |
|
5 |
$38,250 | $49,725 | $61,200 |
|
6 |
$41,050 | $53,365 | $65,700 |
The Housing Development Division staff will inspect the property and help determine the work to be accomplished. Assistance will be provided in soliciting bids and monitoring the construction repairs. Rehabilitation funds are disbursed by El Paso County.
For more information call (719) 385-5912 or e-mail housingdevelopment@springsgov.com.
