FAQ - Homeowners
Frequently Asked Questions
A goal of the CD Department is to promote housing that is attractive and affordable to working families. The following are questions about homeowners that we have heard more than a few times. If you have more questions or need information, please call us at 919-996-4330.
Are there programs available to assist homeowners to fix up their homes?
Yes, we have several loan programs available to homeowners depending on the age of the homeowner, the combined household income, the location of the property, the equity available in the property, and the extent of repairs needed. Click here for a comparison of the different programs targeted to homeowners.
What are the eligibility requirements?
Eligible applicants must own the home (have fee simple title to property); must qualify as a low income household (earn at or below 80% of the AMI while some programs require that you earn at or below 50% of the AMI), must currently live in the home and/or plan on living there after repairs are complete, must live within the City limits of Raleigh and pay City property taxes (some programs require that your home be located in certain areas of the City), and must have enough equity in the property that is equal to or more than the loan amount.
Are grants available to assist homeowners to fix up their homes?
No. Grants require no liens (mortgages) on the property, and are provided with no requirements or expectations of repayment. We provide assistance in the forms of low-interest repaying loans, no interest repaying loans, and deferred loans (forgivable or repayable). Your home will be used as collateral and will require a lien (mortgage) on the property for the term of the loan.
Once I apply, how long will it take to fix up my home?
On average, it takes four months from the time you submit a completed application to the loan closing. After that, repairs can begin and it takes approximately 60-90 days to complete for a total of over 6 months. For information regarding the Loan and Rehab Process, click here.
Can I stay in the home while repairs are being done?
You may be required to temporarily relocate to other housing depending upon the type of repairs being done to your home. Since participation in the program is voluntary and usually does not involve permanent displacement, federal relocation requirements generally do not apply. In other words, the City will not pay for you to relocate to temporary housing. Therefore, if you are required to temporarily relocate, you will be responsible for locating temporary housing and for paying the associated costs, if any.
How do I start the process?
You may call our office at (919) 996-4330 and ask to speak to a Loan Intake Specialist who will ask you a series of questions to determine your initial eligibility (when you call, please be prepared to provide the annual income of everyone in the house over the age of 18) or you may visit our office at 310 W. Martin Street, Room 101.
A major goal of the Community Development Department is to promote the development of affordable housing that is attractive and affordable to working families throughout the Raleigh community. Partnerships are developed with non-profit developers, for profit developers and lending institutions to provide homeownership and rental opportunities. This goal is accomplished through new construction and rehabilitation of both rental and single-family houses, providing second mortgages for first-time homeowners, and purchasing existing rental properties for very low-income renters.
For More Information Contact:
Valerie Malloy
CD Program Manager
Community Development Department
310 W. Martin Street, Suite 101
Raleigh, NC 27602
919-996-4330
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