Vancouver takes applications for home repair loans

The city of Vancouver is accepting applications for housing repair loans of up to $25,000 to qualified low-income homeowners to help with basic home repairs.

The loans are available to homeowners who earn up to 80 percent of the area median income. In addition, homeowners can apply for a once-per-household emergency repair grant of about $5,000.

For a two-person household, 80 percent of the area median income is $52,100, according to the city, and $65,100 for a four-person home.

Applications are accepted year-round on a first-come, first-served basis and available to homes within the city limits.

The loans are 3 percent, simple interest loans that do not require monthly payments. The loan will be paid back when the home is refinanced, the title transfers to another owner or when the owner no longer lives in the home.

Funding for the program comes from the U.S. Department of Housing and Urban Development and the Vancouver Affordable Housing Fund.

More information on requirements and applications is available at www.cityofvancouver.us/HousingRehab.