The Office of Housing and Community Development is currently accepting applications to its Residential Repair Program.
The Office of Housing and Community Development is currently accepting applications to its Residential Repair Program.
The RRP is a low-interest loan program available to eligible low-and moderate-income homeowners. Funds may be used to repair, improve or modernize homes or remove health and safety hazards.
Loans range from $2,500 to $25,000 at 3% simple interest. Loan payments are deferred for 15 years, at which time full payment will be due.
Eligible homeowners who are 62 years or older or persons with a disability may be eligible to have 30% of the loan’s principal balance forgiven at the end of the loan period. Funds are limited and granted on a first-come first-served basis.
“Helping people stay in their own home and keep it in good repair supports families and their communities,”Housing Administrator Susan Kunz said in a press release. “Homeownership helps families and individuals build savings over time. In addition, it strengthens communities and helps many kinds of businesses that support the local economy.”
“Our administration is committed to fostering a sustainable Hawaii Island where our keiki can thrive and succeed,” Mayor Mitch Roth said in the release. “By helping local families upkeep their homes, we are helping them in ensuring their home’s viability for their keiki and loved ones for generations to come. That is sustainability.”
Applications and program information may be found online at: tinyurl.com/4twc5557 or by contacting Marcia Yoshiyama by email at ohcdloans@hawaiicounty.gov or phone at 961-8379.
