The City of Yonkers, Bureau of Community Development offers low interest loans to qualified homeowner’s of 1-4 family homes for housing rehabilitation (based on funding availability). Building occupants must have annual adjusted gross incomes that do not exceed 65% of the HUD median income for the County of Westchester. Eligible rehabilitation items include those that will correct a condition that has occurred recently and that pose a threat to life, health or safety of the resident or tenant’s. The loans are up to $25,000 for the 1st unit and up to $15,000 for each additional unit, with a maximum loan of $70,000, at 3% interest for thirty (30) years for each qualified applicant.
1. Owner-Occupants of a single family (1-4 units) residence
2. Property must be located in the City of Yonkers
3. Owner-Occupant/Tenant Income must be at or below 65% of the Westchester County median income
4. Owner must provide funds for closing costs
PLEASE NOTE THAT FUNDING IS LIMITED.
THE CITY RESERVES THE RIGHT TO CANCEL THIS PROGRAM WITHOUT NOTICE.
For additional information please contact:
Frank Martinez (914)377-6654