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No interest home repair loans available

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Have you been putting off needed repairs to your home?  There are funds available to help homeowners who would like to make repairs to their homes.

The Home Repair Program can provide loans at no interest to low to moderate-income homeowners for necessary repairs.  You do not have to repay the loan until you no longer occupy the home (when you sell or move out of the home).

Loans can be provided for properties located anywhere in Barron, Buffalo, Clark, Chippewa, Dunn, Eau Claire, Pepin, Pierce, Polk and St. Croix Counties.

A loan representative will be available in room 137 of the St. Croix County Human Services building located at 1752 Dorset Lane, New Richmond, on Tuesday, June 9, from 10 a.m. to 2 p.m.

If you would like to make an appointment,  call Valerie at 715-726-4580.  Walk in service will be provided between appointments if time is available.  Written information about the program will also be available for people who would like to learn more about the program.  Future appointment dates will be arranged if there is interest.

The loans are available for necessary home repairs such as replacing siding, windows, doors, furnaces water/sewer laterals from the curb to the house, replacing septic systems and wells, upgrading plumbing, heating and electric systems, installing insulation, repairing foundations, and making a home accessible for a member who has a disability.

Funds cannot be used for general remodeling such as updating decor.  Loans must be approved prior to the work being started.  Funds cannot be used to reimburse a family for work already completed.

There is no interest on the loan and there are no monthly payments required.  Owners repay the loan when they no longer live on the property.  For example the loan is due in full if they sell the property, move out and rent the property, or when the owner dies.  If any of these occur, the owner/estate pays back only what they borrowed, no interest.

Owners choose the contractor they will use.  Participants are required to get 3 bids from contractors of their choice.  Contractors must carry liability insurance and provide the Program Administrator with income tax identification information.

This is an excellent time to apply for the program because the waiting list is very short right now.  There are income limits that apply, see attachment for details.

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