Rehab Loans

Program Overview

Our goal is to work with owner occupants to rehabilitate existing dwellings, enhance the appearance of Lynn’s neighborhoods and correct all health and safety code violations.

For more information, contact Patricia Capano
pcapano@lhand.org (781) 581-8624

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Loan Types

Direct Loan

Owner-occupants of 1 to 4 unit residential buildings, which are located within the city of Lynn with priority given to LHAND’s Neighborhood Revitalization Area (NRA), are eligible for a $20,000 loan at 3% interest for the cost of eligible repairs with a 5 – 15 year repayment period. Household income from all sources cannot exceed the income limits above.

Lead Abatement Loan

Owner-occupants of 1 to 4 unit residential buildings, which are located within the city of Lynn with priority given to LHAND’s Neighborhood Revitalization Area (NRA), are eligible for a $20,000 loan at 0% interest for the cost of Lead Abatement with a deferred loan payable upon sale, transfer, refinance or other relinquishment. Household income from all sources cannot exceed the income limits above. Relocation is not eligible under this program.

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Elderly Deferred – Direct Loan

Owner-occupants age 62 or older who own a single family home are eligible for a deferred $20,000 loan at 0% interest for the cost of eligible repairs. Household income from all sources cannot exceed the income limits above. This program is citywide.

Handicap Accessibility – Direct Loan

Owner-occupants who own a 1 to 4 unit residential building are eligible for a $20,000 deferred loan at 0% in order to make any unit in their home handicap accessible. Household income from all sources cannot exceed the income limits above. This program is citywide.