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HeRO
Program
HOME Repair Opportunity Program
Eligible Properties
Certain
restrictions are designed to ensure the actual homeowner receives the
assistance. Additional restrictions examine the maximum sales price of
the home after repairs have been made.
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All units
shall be owner-occupied single family units, meaning that the homeowner
must occupy the property as his or her principal residence. Property
occupied by non-owners, single wide trailers, manufactured homes not
permanently affixed to a permanent foundation, semi-detached homes,
condominium units, town homes, one-half of a duplex or properties held
in contract-for-deed title are not eligible.
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Home
rehabilitation must comply with all local zoning requirements and
building codes. In the absence of local codes, the ICC International
Residential Building code or approved equivalent will be used, with all
repairs subject to local inspection.
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No home
may be partially repaired or rehabilitated. |
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The
maximum value of a rehabilitated home under this program shall not
exceed 95% of the maximum sales price for a HUD 203(b) loan in the same
area (usually about $130,000 to $180,000).
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