Housing Rehabilitation Loan Requirements

The City of Lake Forest Housing Rehabilitation Program offers a zero % deferred interest loan and a 3 % amortized interest loan for homes, condominiums and mobile homes. In order to qualify for either loan provided by the City, you must first meet the required income qualifications. As a part of the qualifying review, current household income and income of the past 2 years will be evaluated. If you have any questions regarding the loan program please call Theresa Dobbs at (949) 461-3473 or email her.

Payment

The 0% interest deferred loan has no monthly payments. Total payment is due at the time of sale, refinance or transfer of title. The 3% interest loan requires monthly payments and is fully amortized over 15 years. Mobile home owners are eligible to receive up to $15,000 and homeowners are eligible to receive up to $30,000.

Limitations

There are other requirements to qualify for these loans, including but not limited to: applicants must live on the property, may not have received assistance previously, not exceed the asset limitation, and have sufficient equity in the home as well as other requirements.

Eligibility

Most home improvement items are eligible for assistance. However, any code violations or health and safety items in the home must be corrected as a condition of funding. Any homes built prior to January 1, 1978, must meet the new federal regulations regarding lead based paint. Eligible repairs for this Program include: stucco, windows, painting, roofing, plumbing, electrical, energy and weatherization items, garage doors, fumigation, flooring and other items necessary for the health and safety of occupants. Examples of items that are not eligible are room additions, barbecue pits, ceiling fans, swimming pools, fireplace and other items determined ineligible.

Maximum Income Limit by Household

Household Size
Maximum Income
1 person
$54,600
2 people
$62,400
3 people
$70,200
4 people
$78,000
5 people
$84,250
6 people
$90,500
7 people
$96,750
8 people
$103,000