Roof replacements are provided for homeowners who are at 80% and below the Area Median Income. Roof replacement repairs consists of correcting code related items including roof covering, flashing, sheathing and roof structure, soffits and gutters. The applicant must have clear title to their residence with no liens or judgments filed against the property. The applicant is required to repay ½ the cost of the roof replacement in accordance with the following terms:
Monthly payments that are made over a 10 year loan term with payments calculated at 3% interest rate. The owner will make monthly payments during the first five years of the loan. During the 2nd five years of the loan no payments are made and the remaining balance of the loan is forgiven at the end of the 10 year loan term.
