Description: The City contracts with the Contra Costa County to provide low-interest rehabilitation loans and emergency grants to low and moderate income Walnut Creek homewoners for the purpose of improving their Walnut Creek Home.

Minimum Eligibility Requirements

1. Home to be occupied by owner as primary residence throughout the period of the loan.
2. For rehabilitation loans, household income not to exceed 80% of Area Median Income (AMI). For the emergency grants, household income cannot exceed 80% of Area Median Income.
3. Owner must not be able to qualify for an equivalent, affordable market rate loan.
4. Dwelling to be located in residential or mixed use zoning districts (within Walnut Creek coporate boundaries) and must have been legally constructed.
5. Dwelling is in a condition such that rehabilitation within the scope of this program will bring the unit to a safe and habitable condition.
6. Project will result in no more that an 85% loan to home value after rehabilitation.
7. Emergency grants may be approved by the program administrator for households whose incomes do not exceed 80% of AMI and who meet 1 and 4 above, for emergency health and safety problems only.

Funding Criteria

1. City/Agency to provide up to $60,000 per approved loan.
2. Amortized loans are subject to 3% simple interest with a 20-year term, except that the loan shall be paid off sooner if the home is sold or transferred. Deferred loans are due at the time the home is sold or transferred. Underlying mortgages may be refinanced to reduce interest rates or spread out payments of (then) existing loan balance plus closing costs, without triggering payback requirements.
3. Loans may be amortized or deferred, depending on the need of the borrower, as determined by the program administrator.
4. Emergency grants shall be permitted up to $10,000 per home.

Loan Program Content

1. Health and safety hazards will be given top priority for consideration in the program.
2. Loan funds ay be used for various improvements, but are required to fall under the category of health and safety, property maintenance,functional obsolescence, energy efficiency, or ermoval of architectureal barriers for the disabled. Common repairs permitted under this loan program include, but are not limited to: new roofs and gutters; insulation; central heating; remodeled kitchens and baths; electrical and plumbing upgrades; painting, ramps; grab bars; and concrete or deck repair.

How to apply:
Call for application.

Who to call:
The Contra Costa County administers the City's Rehabilitation Loan program. For more information or to apply, call at Jesus del Toro at 925-674-7886.