Home Owner Rehabilitation

The Home Owner Rehabilitation Program is intended to help homeowners with repairs that will make their home more structurally sound and/or more energy efficient. The program provides forgivable loans of up to $5,000 to income-eligible households within Oskaloosa. The loan is forgiven after the applicant has lived in the home for 5 years. If the property transfers ownership, the loan shall be repaid in an amount equal to the full amount of the loan with a 1/60 th reduction for each month the recipient owned and occupied the property.

Requirements:

- Must initially be, and remain owner-occupied during

  the life of the loan,

- Applicants must own their home, or have a mortgage,

- Applicants must have an income of not more than  

  $29,050 for 1 or 2   person family or not more than

  $33,408 for 3 or more person family,

- The home must be built prior to 1984.

To schedule an appointment to apply for the Home Owner Rehabilitation Loan contact Laura Russell at 641/673-8361 or e-mail lrussell@mahaska.org