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Housing Rehabilitation 
 

Terms and Minimum Requirements 


The Single Family Housing Rehabilitation Loan Program is designed to assist low to moderate-income individuals and families.  To ensure that Salem’s homes are comfortable and safe, the Home Rehabilitation Program provides up to $30,000 for eligible repairs, as listed below, and up to $10,000 to mitigate lead-based paint hazards.   The borrower and the home must meet the minimum requirements as outlined below; additional requirements may apply. Please read all requirements before submitting an application.

Loan Terms
Interest Rate:  

0% interest 

Loan Amt Per Unit: $30,000 maximum

$10,000 maximum (lead-based paint abatement)

Term: Deferred payment;
Lead-based paint abatement funds are forgivable after 1 year.
Repayment

Loan is due in full if property ceases to be owner occupied.

 
Additional terms may apply. Terms subject to change.


Eligible Borrower

  • Annual household gross income cannot exceed 80% of the median income for Salem.
  • Liquid asset cap of $5,000.
  • Clear of bankruptcy for five years.  

Eligible Homes

  • Must be owner occupied. 
  • Must be located within the city limits of Salem or Keizer.
  • Qualifying structures include: single-family residences (duplexes, or triplexes are not eligible).
  • After rehabilitation, value cannot exceed $271,050. 
  • Home must be insured.
  • Mortgage and taxes must be current.
  • Loan amount must be fully covered by equity.

Documents

Application and supplemental information - Word Document 

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