CITY OF CARSON
HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME)
OWNER-OCCUPIED REHABILATION (OOR)
FACT SHEET
The City of Carson received $500,000.00 in a HOME program grant award from the Department of Housing and Community Development (HCD). All program funds must be expended by June 30, 2021. The City will offer deferred payment loans to low income owner-occupants to pay for rehabilitation to single-family homes located within the boundaries of the City of Carson. All applicants shall meet the eligibility requirements as described below to participate.
Owner-Occupied Rehabilitation (OOR) Program Summary:
The maximum loan amount of program assistance is up to $50,000 or the amount needed for rehabilitation, whichever is less. The deferred loan interest rate is 0%. Payment in full, principal and accrued interest is due when title is transferred or the property changes ownership. The deferred loan is secured by a Note and Deed of Trust. A minimum of 60% of the proposed work shall be for the correction of code violations posing a health and safety concern. Items eligible for rehabilitation include: roofing, new driveway, exterior painting, stucco, faulty plumbing, heating and hazardous wiring repairs and security lighting. The deferred loan is to be used on a one-time per property basis. Maximum Sales Price Limit cannot exceed $480,000.00 post Rehabilitation.
2020 MAXIMUM TOTAL HOUSEHOLD INCOME LIMITS (HOME)*
Los Angeles County
State HOME: Effective
April 30, 2020
Household
Size
|
Income
Equal to or
less than 30%
of Area Median
|
Income
31% to 50%
of Area Median
|
Income
51% to 60%
of Area Median
|
Income
51% to 80%
of Area Median
|
| 1 |
|
$23,700 |
$39,450 |
$63,100 |
| 2 |
|
$27,050 |
$45,050 |
$72,100 |
| 3
| |
$30,450 |
$50,700 |
$81,100 |
| 4 |
|
$33,800 |
$56,300 |
$90,100 |
| 5 |
|
$36,550 |
$60,850 |
$97,350 |
| 6 |
|
$39,250 |
$65,350 |
$104,550 |
| 7 |
|
$41,950 |
$69,850 |
$111,750 |
| 8 |
|
$44,650 |
$74,350 |
$118,950 |
| *Based on 2020 Median Family Income for the Los Angeles - Long Beach Metropolitan Area of $77,300
for a four(4) person household |