Housing and Community Enhancement Grant
Are you needing an upgrade, but don't have the funds to finance your dream?
Well, we are pleased to inform you that Covenant Bank in association with the FHLB can help you get the funds you so desperately desire.
What will the grant do for you and who qualifies?
10 Main points:
1. Purpose of the grant is the rehabilitation of an existing owner occupied dwelling.
2. Grant up to 15,000 (13,000 max for hard costs) and no matching funds required.
3. Maximum income limit based on the number of people living in the household.
4. Homeowner must have owned the property for at least 1 year.
5. Must live in the home for 5 years to avoid payback or sell the home to a buyer who also meets the acceptable limits.
6. Must complete an online homebuyer counseling course.
7. Rehab work can include roof, exterior doors, insulation, heating and cooling unit (s), windows, plumbing, exterior ramps, floors, and etc.
8. Work must be performed by a licensed and insured contractor.
9. Income requirements:
Number of people in household | Household Income Cap |
1 | $34,700 |
2 | $39,600 |
3 | $44,600 |
4 | $49,600 |
5 | $53,500 |
6 | $57,500 |
7 | $61,500 |
8 | $65,400 |
10. How do you get started?
2.Contact a mortgage lending officer
Gary Eubanks Jim Lardas
Mortgage Consultant Mortgage Consultant
(205) 410-4946 (205) 705-9312
Once you are approved let Curtis White Companies, a licensed builder and general contractor, help get your rehab underway and construct your dream into a reality.
(205) 699-2283
