The Town of Granby has funding available for a Housing Rehabilitation Loan Program that provides funding to income-eligible property owners for housing related repairs.
Property owners must meet income guidelines based on household size to participate. Additional requirements include eligibility of proposed repairs, sufficient equity, and paid real estate taxes. Income limits are based on gross income for all household members age 18 and older that are not fulltime students. Household income limits are as follows: one person–$54,950; two people–$62,800; three people–$70,650; four people–$78,500; five people–$84,800; six people–$91,100.
Eligible repairs include, but not limited to: roofing, siding, doors and window replacement, plumbing, electrical and heating upgrades, insulation and weather proofing. Additional improvements such as water and sewer connections, life safety and code compliance are also eligible.
Funding is provided as a zero-interest, deferred payment loan, to owner-occupied residents. Low interest loans are available to investors provided certain requirements are met. Deferred payment loans require no monthly payments and accrue no interest. Payment is due upon transfer of title, sale of property, refinance, if the property is no longer their primary residence or upon the owner’s demise.
Applications are addressed on a first-come first-serve basis and funding is limited. To apply, contact the Community Development Office, Abigail St. Peter Kenyon at 860-844-5319 or akenyon@granby-ct.gov