Property must be owner-occupied.
Property must be a single-family detached unit, condominium, townhouse, or manufactured home on a permanent foundation.
The minimum loan amount to an eligible Borrower will be $10,000 unless the home needs reconstruction. If the home needs reconstruction, the maximum loan amount will be $100,000.
Applicant household income cannot exceed 80% of Los Angeles County Area Median Income (AMI).
The property must be within the City of Azusa’s limits/boundaries.
Eligible repairs include reconstruction and Rehabilitation of Manufactured Housing not on a permanent foundation and construction, repair, reconstruction, or Rehabilitation of ADUs or JADUs.
All assisted units shall have After-Rehabilitation Values at or below the current local median sales price of a single-family home.
Occupancy Ratio: No more than 1.5 people per living space (including bedrooms, living room, family room, den/study).
CalHome program funds in support of an Owner-Occupied Rehabilitation program shall be used only for the following costs:
(a) Cost of Rehabilitation of the property.
(b) Cost of building permits and other related government fees.
(c) Cost of an appraisal, architectural, engineering, and other consultant services that are directly related to the Rehabilitation of the property.
(d) Non-recurring Loan closing costs.
(e) Replacement cost of a manufactured home not on a permanent foundation, where it has been determined by the Recipient that it is infeasible to rehabilitate the home.
Principal and interest payments shall be deferred for the term of the CalHome Program Loan.
CalHome program Loans shall be secured by the property.
The City of Azusa has been awarded the CalHome Grant, which assists eligible homeowners with repair, full reconstruction, or the addition of an ADU or JADU.
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