These funds are being made available from the proceeds of the sale of tax-exempt mortgage revenue bonds.
Condominiums are eligible provided the condominium association permits the proposed renovations.
Must be at least 5 years old as of the loan application date. In the event that the home will be uninhabitable while the renovations are being completed, borrowers may finance up to 6 mortgage payments. The consultant's fee may be financed by the mortgage loan. This reserve amount may be financed with the loan proceeds. Applicants cannot act as their own contractor unless construction contracting is their full-time occupation.