Housing Trust Fund of Johnson County Offers Housing Rehab Funding to Residents
The Housing Trust Fund of Johnson County, in conjunction with Hills Bank and Trust Company, the Federal Home Loan Bank (FHLB) of Des Moines and the East Central Iowa Council of Governments (ECICOG), will have $330,000 available on a first come, first serve basis to assist approximately 20 homeowners in Johnson County outside of Iowa City with needed home rehabilitation. Priorities include roofs, windows, doors, siding, HVAC, plumbing and safety concerns.
To qualify for assistance, homeowners must have an income below 80% of the area median income.
In addition, there must be enough equity in the dwelling to support the investment of up to $16,500 per homeowner rehabilitation project. Assistance is in the form of a five-year forgivable loan. If the homeowner remains in the home for five years, they will owe nothing on the assistance provided. If the homeowner sells the property before the five year period expires, the homeowner will need to repay the pro-rated portion back to the Housing Trust Fund of Johnson County. Participants will engage in a financial education program to help ensure that future expenses related to home ownership are included in the household budget.
Please share this information with anyone in your community who might benefit from this special program. The attached flyer provides information for homeowners including the contact person, Mark Culver, at ECICOG. Applications for assistance are available on the Housing Trust Fund of Johnson County’s website.