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HOME IMPROVEMENT PROGRAM: This program provides no-interest, deferred payment loans to qualified low and moderate income homeowners in the Town of Babylon. The purpose of the loan is to improve housing conditions and correct housing code violations by repairing and rehabilitating health and safety hazards, and bringing the home to meet Town Code. This program is administered by Community Development Corp of Long Island. For additional information, call (631) 471-1215, and select option 6.
PROGRAM HIGHLIGHTS: The maximum loan is $50,000 to correct substandard housing code violations. Payment of the loan is deferred until the property is sold, the title is transferred or the home is refinanced for cash out. Monthly payments are not required. The loan is secured by a mortgage placed against the property.
ELIGIBLE HOME REPAIRS OR IMPROVEMENTS:
INCOME GUIDELINES: Family Size / Maximum Income*
1 / $72,500 2 / $83,150 3 / $93,550 4 / $103,900 5 / $112,250 6 / $120.550 7 / $128,850 8 or more / $137,150 *Income limits subject to change pursuant to HUD requirements.