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Thank you for your interest in the City of Hollywood's Housing Rehabilitation Program.
The Program has been modified to reflect the current shortage of funds.
The maximum loan amount for eligible repair items is up to $40,000.00 for Structural
and System Repairs and up to $15,000.00 for Property Standard loans. Cases involving
health and safety concerns will be prioritized on a case-by-case basis. Forgivable
Loans may be available depending on income and need.
If your situation fits the key restrictions listed below, you may be eligible for assistance.
Additional restrictions may apply, depending upon the loan funding source The City does not
offer deferred loans; therefore all loans will require a payment plan.
Property
- The property must be located within the city limits of Hollywood.
- The property must have current Homestead Exemption (owner occupied).
- Any illegal additions must either be removed or made to conform to current building codes when
utilizing this program.
- The maximum, post-assistance appraised value of the property shall not exceed the value limit
applicable to the proposed funding source(s) and in no instance will exceed $292,150.00.
- The maximum combined loan to value, including all existing mortgage balance(s) shall not exceed 110%.
- You cannot have an existing City loan on your property.
Applicant
- Household gross income limits range from $26,400.00 to $79,550.00 (as verified by a formal
income certification).
- You must be current on all secured mortgages, property taxes and home insurance policies.
- You must not be anticipating or be involved in any bankruptcy or foreclosure procedures.
- If you can obtain a loan from a conventional lending institution, you are not eligible for assistance
from the City’s program.
- Depending on your existing debt-to-income ratio, you may be required to complete a credit and
budget housing counseling course with a HUD-certified housing counseling agency prior to closing.
- You may be required to contribute your labor on any exterior repair work.
- Those with liquid assets in excess of $20,000.00 are not eligible.
Income Limitations
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Income Limits for 0% Interest Loan
Repayment minimum
$25.00 per month
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Income Limits for 3% Interest Loan
Repayment minimum
$50.00 per month
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Household
Size
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Maximum Household
Gross Income - Very Low
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Household
Size
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Maximum Household
Gross Income - Very Low
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| 1 |
$26,400 |
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1 |
$42.200 |
| 2 |
$30,150 |
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2 |
$48,200 |
| 3 |
$33,900 |
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3 |
$54,250 |
| 4 |
$37,650 |
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4 |
$60,250 |
| 5 |
$40,700 |
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5 |
$65,100 |
| 6 |
$43,700 |
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6 |
$69,900 |
| 7 |
$46,700 |
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7 |
$74,750 |
| 8 |
$49,700 |
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8 |
$79,550 |
The loan from the City of Hollywood must be repaid in full when any of the following changes take place:
(1) The borrower sells, transfers, leases or disposes of the assisted unit (by sale,
transfer, bankruptcy or foreclosure, etc.); (2) the borrower no longer occupies the unit
as their primary residence; or (3) the borrower dies, or if a married couple, the
survivor dies; or (4) may become due upon refinance.
If you are interested in scheduling an Eligibility Interview, please click on the link
below to view a list of documents that you will need to have in your possession when you
contact us to complete a pre-screening and schedule an intake appointment.
Housing Rehabilitation Eligibility Interview documents
Click Here
Other local agencies may also be able to offer assistance.
Please contact the following agencies for additional information:
If you would like information regarding housing counseling, please contact
HUD's website or call HUD at 1-800-569-4287.
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