Deferred Housing Rehabilitation Loan Program

This Program provides low-interest rate loans to low-income senior or permanently disabled homeowners within the City of Sonora for needed home improvements. These loans are deferred and monthly payments are not required.

Eligibility Criteria

• Be low-income and show an inability to make monthly payments

• Own & occupy a single-family residence located within the City Limits of the City of Sonora  

• Be either a senior (minimum age of 62) or a permanently disabled person who is receiving State and/or Federal benefits as the result of a long-term disability

• Continue to reside in the residence

• Have adequate equity in the home

• Meet all other loan requirements & guidelines

 Terms of Loan  

• Interest Rate is 5%
  

•  Maximum Loan amount is $30,000
  

•  Loan is not assumable

Loan is deferred until one of the following occurs:

§   Transfer of Title

§   Property is not Borrower (s) primary residence

§   Within one year of death of the last remaining  Borrower still in residence

The City of Sonora is an Equal Housing Lender and does not discriminate on the basis of religion affiliation, age, race, color, ancestry, national origin, sex, marital status, familial status, children, physical or mental disability, sexual orientation or other arbitrary cause.

Click here to see the Rehabilitation Loan Guidelines & Requirements

Click here to see the Rehabilitation Loan Application