The City has determined that many homes eligible for the First Time Homebuyer Program are in need of some repair. In the current market many of these affordable homes are Bank-Owned properties that may have suffered some distress either at the hands of former owners or through neglect and vacancy. This program is designed to work in tandem with the First Time Homebuyer Program.Single Family detached homes, condominiums, townhouses and manufactured homes on a 433 permanent foundation.
Property Location: Within Temecula City Limits
Maximum Amount: $10,000
Loan Terms: A ten year loan at 5% interest. The loan is forgiven on the maturity date if the terms have not been breached. If title to the property is transferred, the borrower ceases to occupy the property or the first mortgage is refinanced with cash taken out the loan becomes due and payable immediately.
Requirements: The application must be processed concurrently with the First Time Homebuyer Program.
Eligible Repairs: Housing staff will perform a pre-inspection of all work to be done to determine eligibility. Eligible repairs include, but are not limited to:
- Code items
- Deterioration of structure or fencing
- Repair or replacement of roof
- HVAC systems, wall heater or evaporative coolers
- Windows, Screens, Garage Doors & Entry Doors
- Exterior Painting
- Non-working or missing major appliances
- Repair items damaged by neglect, vandalism or theft
Participant must obtain a minimum of 2 bids from licensed contractors. All work must be inspected by housing staff or building inspectors prior to payment. Payment may be made directly to the approved contractor or to the homeowner as reimbursement.
Family Size /
Income 1 / $52,100 2 / $59,500 3 / $67,000 4 / $74,400 5 / $80,400 6 / $86,300 7 / $92,300 8 / $98,200
For more program information please contact The City of Temecula Redevelopment Agency, Emery Papp @ 951-693-3966, www.cityoftemecula.org.