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.

Other Programs

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