Low-Income Rental Housing Rehabilitation Loan Program

This Program provides rehabilitation loans to property owners of rental units located within the City of Sonora. Units must be occupied by low-income households or be vacant. 

Eligibility Criteria 

• Be a rental property owner with units currently occupied by low-income tenants* or with units that are vacant and will be occupied by low-income tenants

• Property must be located within the City Limits

• Have adequate equity in the property

• Agree to the City’s Rental Property Agreement

• Meet all other loan requirements & guidelines

Terms of Loan

• Interest Rate is 5%

•  Maximum Loan Term is 15 years

•  Maximum Loan Amount is $30,000 per unit

•  Monthly Loan Payments are required

•  Loans are not assumable

Housing Programs’ Income Limits  
Low- Income Households are defined as having an income that does not exceed 80% of Tuolumne County ’s Median Income.  The Federal Department of Housing and Urban Development sets the median income for each county annually.

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

 

City of Sonora
Kim Campbell,  
Community Development Specialist 
94 Washington Street
Sonora, CA, 95370
Phone: (209) 532-3508
Fax: (209) 532-3511