New Mutual Help/HOAP Maintenance Loan

This program allows HOAP or New Mutual Help Program participants to take out a loan through THRHA for repairs or improvements to their home. The home owner is responsible for getting an estimate and submitting it to THRHA for review.

Program Features:

• • Offers up to $30,000 for repairs, energy-efficiency improvements and structural additions/expansions.
  • Loan is repaid by making additional monthly payments.
  • Two categories are covered by this loan:
  • Home improvements & structural changes
  • Repairs that brings the house in compliance with building codes
  • Interest rate is based on the current prime interest rate plus two percent

Qualifications:

• • Be a current HOAP or New Mutual Help Assistance Program participant who has been current on your monthly payments for the past year.
  • Show that you will use the funds to correct conditions that pose health or safety risks; to make your home more energy efficient; to build a functional addition; or to make property improvements.
  • Demonstrate the ability to afford a new maintenance loan in addition to regular house payments.

Preference Considerations:

• This program is offered to people currently participating in THRHA’s New Mutual Help or HOAP Programs.