Housing Rehabilitation Loans
Our home rehab loans are very special.
Rehabilitate: (verb), 1: reinstate 2: make good or usable again.
We provide the homeowner a bundle of services that protect their interests while improving the quality of our community's housing stock. The key features of our Home Rehab Loans are:
- Interest rates are always below market
- Terms are adjusted to fit the borrowers' ability to repay
- Loans are reviewed by an impartial loan committee
- Homes are inspected by highly skilled staff prior to any specifications being written
- Homeowners choose bidders from a list of prequalified contractors
- Contracts and all paperwork are produced on VNHS forms that protect owners' rights
- Construction is monitored throughout by NHS staff
- VNHS and the homeowner both must sign releases before any funds are paid out
- We also look out for special needs such as removing lead paint or providing for access for the disabled
ADDED ADVANTAGES:
- Our projects have few "call backs" because we monitor the work on a daily basis
- Our delinquency rate is less than 5%. Comparable government programs have rates five to ten times as high
- Our customer satisfaction rate is higher than other second mortgage lenders
We are able to sell most of our loans on the secondary market, returning funds to the loan pool to serve other families
Housing Rehabilitation Loan Programs
Find out about Rehab loan by downloading the the manual in Forms..
New Rental Rehab Program
To find out more about the New Rental Rehab Program Click here.
For unincorporated areas, see the "Unincorporated Vallejo Rehab Loans" document in Forms.
Or go to Forms and download the Word.Doc.