City of Raleigh Community Development

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Telephone Numbers and Contact Information

Program Details

Program offers an elderly homeowners' rehab deferred payment loan program, in which adults age 62+ may qualify for a no-interest deferred loan up to $35,000 for major repairs. *The COR-major repair program requires the repair request consist of MULTIPLE items...ie: roof, plumbing, electrical, windows, heating/cooling unit, etc. The program does NOT allow for any single item repair, even one of significant proportion. Other terms under the program provides assistance up to $45,000 to low-income homeowners in specified areas. These are deferred, non-interest-bearing loans which are forgivable over a 15-year term. Slightly different rules for age 55+ or disabled individuals versus younger homeowners, but available to both groups. Income must be below 50% of area median income limit (as of May 2015, $27,600 for a single person; $31,550 for a couple). Call for details. Limited repair program provides repairs up to $7,500 in value. This is a loan that is deferred and then forgiven over a 5-year term, i.e., if the homeowner remains in the home for at least 5 years, they will not have to pay back anything. If the homeowner remains in the home less than 5 years, they will pay back only a portion of the loan, e.g., 40% if they have stayed in the home 3 years from the time of the repair. Also includes a joint venture rental program, homeowner purchase and rehab, homeowner rehab, and city-wide home ownership loan program.

This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Resources for Seniors may not be held liable for misuse of this information.