Town of Truckee Owner Rehabilitation Program

The Town of Truckee has CalHome Program funding available to assist eligible homeowners with housing rehabilitation loans. These funds are available on a first-come-first served basis. The homeowner and the housing unit must meet program requirements.

· Housing unit must be owner occupied (principal residence).
· Housing unit must be within Truckee Town limits.
· Eligible housing units include single family, half-plexs, condominiums, town homes and manufactured housing (including manufactured housing in mobile home parks).
· Household income from all sources must be at or below 80% of the median by household size.
· The rehabilitation loan will be secured with a lien on the home to be rehabilitated.
· There must be sufficient equity in the home to be rehabilitated to secure the first mortgage (if applicable) and the Town’s lien.
· Maximum loan is $38,000.
· Loan interest rate is 3% annually (simple interest).
· Interest and payments deferred until the first of three events occurs: 1) home is no longer borrower’s primary residence; 2) property changes title; or 3) 15 years pass.

Interested homeowners should complete Truckee’s Owner Occupied Housing Rehabilitation Program application and submit to: JoAnn Anders, PO Box 1583, Cedar Ridge, CA 95924.