Housing Assistance Programs PDF Print E-mail

ONGOING REHABILITATION PROGRAM

I. EMERGENCY GRANT PROGRAM

Maximum $5,000.00 assistance per single family owner occupied dwelling unit for damages incurred within past 60 days due to Act of God type emergencies.

EXAMPLE: Wind damage, sudden well failure, falling tree, lightning, fire, etc.

If owner has insurance coverage, we will pay the deductible. If no insurance coverage, we will pay for entire job up to $5,000 limit.

Total household income must be less than the 50% low-income limits set by H.U.D. for Lake County.

II. CDBG RENTAL REHAB LOANS

We loan 100% of money necessary to rehabilitate two or more family residential units, which are primarily rented to very low to moderate income tenants. Rents must be “affordable”.  For this purpose “affordable rents” cannot exceed the HUD Fair Market Rents for the area or 30% of the tenants gross income, whichever is less. We will loan no more than $20,000 average per unit in any one building. Interest rate is 3%, twenty-year term. Non-returnable $100.00 application fee.

III. DEFERRED PAYMENT LOAN PROGRAM

These are 0% deferred loans made to low-income owner-occupied single-family residences. Total income in the household must not exceed the 50% low-income limits established by H.U.D. Code items and energy efficiency improvements only. Owner may subsidize our loan by paying for additional repairs. Repayment is principal only anytime ownership of home is transferred. Maximum loan is $25,000.

IV. LOW INTEREST LOANS

For owner occupied single-family homes. Interest rate is 3% twenty-year for owners whose income limits for the area as established by H.U.D. House must meet all codes after rehab. Up to 40% of the loan can go toward non-code improvements. Maximum loan is $25,000.

V. HOMELESS PREVENTION

The Homeless Prevention Program provides one-time financial assistance to lower income renters or mortgagors who are in default of their monthly payment. Proof of default and/or eviction is required.

FOR HOUSING COUNSELING CONTACT THE FOLLOWING AGENCIES

  1. Northwest Indiana Reinvestment Alliance (219) 931-9300
  2. Catholic Charities (219) 879-9312
  3. Consumer Credit Counseling of NWI, Inc. (219) 980-4800
  4. Housing Opportunities, Inc. (219) 548-2800

For Foreclosure Assistance 1-877-GET-HOPE
www.877gethope.org 

HOMEBUYERS ASSISTANCE PROGRAM

The Homebuyer Assistance Program is designed to assist households with overcoming what is usually the biggest hurdle to such households purchasing a house: the initial cash layout (e.g. down payment, fees, closing costs, etc.). Under this program we will assist qualified households whose income does not exceed the 80% moderate-income limits for the area as established by HUD. We can provide funding for principal reduction to make homeownership a reality, however the applicant must be able to obtain private mortgage financing. The maximum assistance available is $5,000 per household for qualified buyers.

For Federal Fiscal Year 2014 or until new HUD changes are effective, the Single Family Unit Home Price cannot exceed $152,000.00 for an existing home and $205,000.00 for new home.

ANNUAL INCOME LIMITS DETERMINED BY HUD

FOR LAKE COUNTY INDIANA

Annual Income Limits

Income Limits are subject to change per HUD Guidelines, contact the office for current figures 

NOTE: Lake County Community Economic Development Department’s Entitlement Area consists of:

CEDAR LAKE
DYER
CROWN POINT
GRIFFITH
HIGHLAND
HOBART
LAKE STATION
LOWELL
MERRILLVILLE
MUNSTER
NEW CHICAGO
SCHNEIDER
SCHERERVILLE
ST. JOHN
WHITING
WINFIELD

AND ALL UNINCORPORATED AREA IN LAKE COUNTY.

FUNDING FOR THESE PROGRAMS, DESIGNED TO AFFORD SAFE COMFORTABLE LIVING CONDITIONS FOR FAMILIES AND TO ELIMINATE DETERIORATION OF PROPERTIES AND NEIGHBORHOODS, IS MADE AVAILABLE THROUGH GRANTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT