Grants directory
Owner-Occupied Rehabilitation Program
City of Wilmington Housing Division · City program
Loans up to $100,000 for existing construction or up to $150,000 for demolition/reconstruction; page also lists $95,000/$115,000 maximum loan amounts and a 2% fixed rate.
The City of Wilmington offers low-interest rehabilitation loans to qualified low- and moderate-income homeowners inside city limits to repair homes and remove health and safety hazards. The program can also include technical help with bids, and loan amounts can go up to $100,000 or $150,000 for demolition/reconstruction scenarios, depending on eligibility details on the page.
Program details
How it works
The City of Wilmington says it offers several housing rehabilitation options for homeowners within the corporate city limits. The owner-occupied rehab program is a financing program, not a grant: the city lends money for repairs and improvements, and homeowners choose the contractor from bids the city helps solicit.
The city also provides free technical assistance by preparing a detailed repair list and soliciting bids. Homeowners then authorize payment to the contractor after the work is satisfactorily completed.
What the money covers
Loan proceeds may be used to repair and improve the dwelling and/or remove health and safety hazards. Closing costs may also be included in the loan.
Remodeling projects and home additions are not eligible uses of funds.
Amounts and terms
The page states that loans up to a maximum of $100,000, including a 15% contingency for existing construction, or up to a maximum of $150,000, including a 15% contingency maximum for demolition and reconstruction, shall be available to homeowners whose income does not exceed 80% of Area Median Income (AMI).
A separate highlights section on the page lists a maximum loan amount of $95,000/$115,000, a 620 minimum credit score, a fixed 2% interest rate, and a 20-30 year loan term.
How to apply
The page says interested homeowners should call 910-341-7836 for more information or to apply.
Timing and deadlines
The page does not state a closing date or application deadline. It says the program applies to qualified applicants and that income limits apply.
Full eligibility details
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