Grants and low interest loans available to assist low and moderate income homeowners with home repairs
The Northwest Iowa Regional Housing Trust Fund, Inc. (NWIRHTF) provides financial assistance to low- to moderate-income homeowners in making the necessary repairs to their homes. The financial assistance will be in the form of both grants and low-interest loans.
NWIRHTF is a non-profit housing organization that promotes the preservation of affordable housing in Buena Vista, Clay, Dickinson, Emmet, Lyon, Osceola, O’Brien and Sioux counties. Financial assistance is limited to only households at or below 80 percent of the Area Median Income and at least 30 percent of the funding will be set aside to benefit extremely low-income households. The income limits are:
Households with incomes under 30 percent of the Area Median Income Limits are eligible for financial assistance in the form of a forgivable grant up $7,500 for home repairs. Households at 31 percent to 80 percent of the Area Median Income Limits are eligible for financial assistance for a combination of a grant up to $7,500 and a low interest (2 percent) loan up to $15,000. Applicants with incomes between 31 percent to 80 percent AMI are only eligible for the grant after two thirds of the project costs are covered by the loan interest loan. Applicants applying for these repayable loans must have a credit score of 620 or higher.
The Northwest Iowa Regional Housing Trust Fund has awarded over $1,607,520 in loans and grants to 234 low and moderate income households over the past seven years. Financial assistance was granted for basic structural repairs such as roofs, windows, siding and etc. Applications can be picked up at city hall or by contacting Kristin Larsen at 712-262-7225 Ext. 139.