Expanded Home Repair Program Ready to Help More Low-Income Homeowners
DevNW offers zero interest, deferred payment loans to qualified borrowers in Linn, Benton and Lincoln Counties.
Corvallis, OR – A Home Repair Program operated by DevNW is expanding to three counties to help low-income homeowners in Linn, Benton, and Lincoln Counties make necessary repairs to their homes through zero interest loans with no minimum monthly payments. To qualify for a home repair loan the borrower must be low- to moderate-income (80% area median income or less).
“We know there are a lot of homeowners in need of help and are excited to be able to server a larger area through the program expansion. Our goal is to help people stay in their homes by ensuring homes are healthful and safe”, said DevNW Home Repair Manager, Liza Newcomb.
Low income residents have reduced resources available for necessary home repairs. Sometimes low income households are forced to defer important repairs, which can lead to extreme property damage and severe health and safety concerns. These conditions force households to make hard decisions when deciding whether to repair their homes or pay monthly bills. This is especially true for repairs that homeowners do not have the skills to do on their own or the funds needed to cover the initial costs, such as roof repair and gutter replacement.
DevNW works closely with borrowers to coordinate repairs. “The program is very well organized. Each staff member is committed to helping the clients. I was very happy with staff and how they took extra steps to make sure the repairs were easy on me and my family”, said borrower Sharon Snyder.
The goals of DevNW’s Home Repair Loan Program are to:
Alleviate health and safety problems and correct structural deficiencies in target area homes;
Conserve and improve existing low income housing stock;
Increase housing opportunities for low and moderate income households; and
Enable low income homeowners to remain in their homes.
DevNW has provided home repair loans in Linn county since 2007. Its expansion to a three county service area will allow it to provide roughly $1M in loans to even more qualifying homeowners in Linn, Benton and Lincoln counties. The average loan will be $35,000 and the opportunity will be available throughout 2020 while funds last. Typical repairs include upgrades of housing systems (electrical, plumbing, waterproofing, and heating); corrections to structures to maintain health, life and safety standards, including water and septic; and general improvements to the exterior and interior of homes. Due to COVID-19 public health protections, DevNW is currently only able to perform exteriror work. A prefered contractor has been selected to speed the turn around on repairs. If a borrower needs other repairs, now is the best time to get on the client list to shorten the wait once services return to normal.
Individuals interested in qualifying should fill out a preliminary assessment that can be found on DevNW’s website at https://devnw.org/forms/preliminary-assessment/.
DevNW (Dev Northwest) is a nonprofit that was created in 2019 when Neighborhood Economic Development Corporation (NEDCO) and Corvallis-based Willamette Neighborhood Housing Services (WNHS) united to expand their impact, bring people together, and better help our communities thrive in the long term. Together, the two organizations have 60 years of experience and a vision to grow vibrant Northwest communities and empower the region’s individuals, families, small businesses, and neighborhoods. www.devnw.org