The City of Tampa just opened up its application process this week to help homeowners struggling with home repairs.
The owner occupied homeowner rehabilitation program helps eligible homeowners with home repairs if they meet a certain income criteria.
On their website they break down the maximum household income levels as:
1 person - $33,500
2 persons - $38,300
3 persons - $43,100
4 persons - $47,850
5 persons - $51,700
6 persons - $55,550
The loan will be completely forgiven as long as you own the home for the entire term of the loan.
The term of the loan is determined by the amount of funds expended:
If you receive less than $15,000 you will have to stay in the home for five years. Loans for $15,000-$40,000 you must stay in the home for ten years, and over $40,000 you have to stay in the home for 15 years.
If not, the loans will not be forgiven.
The city will help pay for leaking or failed roof systems, failed plumbing, poor or hazardous electric systems, even structural home problems like walls or the floor.