Peace of mind knowing the home repairs are being supported by expert City staff. Improving the safety of the community living environment. Revitalizing the older housing stock. Increasing property values. Stimulating neighborhood reinvestment and beautification.
Financial assistance can come in the form of either a loan, grant or combination of both.
Length of time of the loan is typically up to 20 years on either a deferred payment or monthly installment payment basis. Essentially, terms are flexible and below market, based on the applicant's particular income situation. The advantages of the program are great. The deferred payment loan must be repaid when a house is sold or transferred, but there are no monthly payments. Another advantage of the City of Santa Clara's program is the quality assurance.