The Burlington County Commissioners approved change to the county’s Home Improvement Loan Program to make loans forgivable if the recipients continue to live in the home for a period of 10 years.
The Burlington County Commissioners have approved changes to a county program that assists low- and moderate-income residents with critical home repairs.
The Burlington County Home Improvement Loan Program provides zero-interest deferred payment loans to income-eligible homeowners of up to $25,000 to make repairs or correct substandard conditions that might impact health and safety.
Previously residents who qualified for the loan were required to repay the full amount without interest whenever their home was sold, or the residents moved. The change approved by the commissioners allows the loans to be forgiven if the recipients continue to live in their home for a period of 10 years.
The Burlington County Home Improvement Loan Program is funded with aid received from the U.S. Department of Housing and Urban Development and is administered by the Community Development and Housing Division of the Burlington County Department of Human Services.
To qualify for a loan, residents must be the legal owner of the property and reside in it as their principal residence. Income limits are set by HUD rules.
Homeowners seeking more information about these programs and how to apply can find details online at https://www.co.burlington.nj.us/257/Community-Development-Housing or by calling the Division of Housing and Community Development at (609) 265-5072.
