The Wood County HOME Consortium’s Owner Occupied Rehabilitation Loan Program provides low interest loans to qualified households in order to bring the family’s structure up to state and local building codes. This program allows residents, who may not normally qualify for a traditional home equity loan, to make important improvements to their home. Below are some commonly asked questions and answers about the program.

Who is Eligible for the Program?

To be eligible for the program you must:

• Be a resident of Wood County;
• Own and reside at the property you are applying for;
• Meet and verify income eligibility requirements;
• Mobile homes and homes with land contracts are not eligible.

What are the income guidelines?

Households cannot exceed the following household income levels to be eligible*:

2014 Income Guidelines

Number of persons in household  – Maximum adjusted gross income

1 – $30,100
2 – $34,400
3 – $38,700
4 – $42,950
5 – $46,400
6 – $49,850
7 – $53,300
8 – $56,700

How does the process work?

1. Complete a loan application and submit verification of income, housing expenses and debts (pay stubs, copies of utility bills, credit card statements, etc.) to the City.

2. The City’s Housing Inspector will perform a detailed work-up document of all renovations that are required to bring the house up to code. The Development Office
staff will also evaluate your application, including your ability to pay at this time.

3. If the total cost of repairs to the home is under the maximum loan amount ($30,000) and the applicant and City agree on terms of the loan, the City will put the project out to bid using a list of qualified, licensed contractors.

4. Contractors contact the homeowner for a detailed inspection of the home and submits a bid to the City.

5. The City opens the bids and eliminates bids that exceed the City’s estimate by 10%. The City then presents the remaining bids to the owner, who decides which contractor is awarded the bid.

6. Once the contracts and loan agreements are signed, the contractor selected has 60 calendar days to complete the work, with final approval coming from the owner.

7. Loan repayments begin after the work is completed— on a mutually agreed upon time.

What will my monthly payment be?

Repayment of the loan is based on a number of variables and every case is different. After reviewing your situation, the City will explain the loan details before your home repairs go out to bid.

Can I receive money to do home repairs myself?

No. Program regulations prevent the homeowner from doing the work themselves. Work must be done by a City approved contractor.

I need a new roof, will this program pay for that?

Yes, but the City will do a complete inspection of your home to see what other repairs are also required. According to federal guidelines, the City must bring the entire house up to state and local building codes, not just repair certain portions of the home.

If I apply today, when will my house be repaired?

This program operates on a first-come, first-served basis. Currently, the waiting list for this program is approximately one year.

How do I sign up for this program?

Download an application here. Or call the City’s Development Department at 304-424-8418 to have an application mailed to you. You can also stop by the 5th floor of the Municipal Building to pick one up.