New funding expands Home HeadQuarters grant, loan programs for homeowners

Syracuse, N.Y. – Local officials today announced the expansion of grant and loan programs to help homeowners pay for repairs or renovations. The programs are administered by Home HeadQuarters, a nonprofit housing organization.

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Covid-19 emergency home repair grants: Bank of America is providing $100,000 to beef up this grant program, which provides income-eligible homeowners with up to $2,000 for emergency repairs such as replacing hot water tanks, repairing furnaces, and addressing other quality of life and safety issues. To qualify, you must have lost a job or substantial work hours because of the coronavirus pandemic. Home HeadQuarters said it already has more than 125 people on a waiting list.

Get more information here.

Solvay/Geddes home renovation loans: Homeowners throughout Geddes can now get loans of up to $25,000 for home renovations. The loans carry interest at 1% and are repayable over 10 years. They can be used for interior or exterior work and are available to all town residents regardless of income.

There is $2.3 million available in the loan fund, Onondaga County Executive Ryan McMahon announced today. The money comes from Empire State Development, the state economic development agency, as part of a $30 million revitalization program announced in 2014 for Solvay and the west shore of Onondaga Lake.

Previously, the loans were only available in the village of Solvay, were capped at $15,000, could only be used for exterior work, and were repayable over seven years.

In addition to loans, low- and moderate-income homeowners may qualify for grants to cover 25% of their improvements. Landlords can get loans at 5% interest for rental properties.

Get more information here.

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Author: iwano@_84