Private Owner Rehabilitation

The Private Rehabilitation provides assistance for the comprehensive rehabilitation of owner-occupied dwelling units within Ashtabula County (excluding the Cities).  Financial assistance is provided to low - moderate income (65% of LMI) homeowners to correct substandard conditions which at the time of inspection are found in violation of the programs applied rehabilitation standards.  The rehabilitation effort will correct deficiencies throughout the dwelling, eliminating health and safety concern.  Secondary benefits will include an assessment of lead hazards in and around the dwelling and lead reduction activities that will be included in the rehabilitation efforts for houses pre-1978.

The assistance for the rehabilitation it is in the form of a 0% interest, non-amortizing loan with 80% of the loan forgiven over a ten-year period, at a rate of 8% deductible per year. With the remaining 20% payable when the property is sold, transferred or vacated after 10 years. The deferred loan subsidies will be secured by a second mortgage on the property.
 

Program Guidelines



  • Must own the home (more than a year)
  • Must have Homeowners Insurance
  • Must NOT be delinquent on property tax (or on an approved payment plan)
  • Trailers DO NOT qualify (unless classified as real estate)
  • Assistance in the form of a 0% loan, a non-amortizing loan with 90% of the loan forgiven over a five-year period, at a rate of 18% deductible per year. With the remaining 10% payable when the property is sold, transferred or vacated after 5 years. The deferred loan subsidies will be secured by a second mortgage on the property.
  • Must not exceed the income guidelines. 
  • This program is NOT a REMODELING program and WILL NOT address any cosmetic items.
  • If the property evaluation by the Rehabilitation Specialist exceeds the maximum assistance, Ashtabula County will institute its walk away policy and no assistance will be granted