Forgivable Interest-Free Loans for Large Remodeling Projects
The Transformation Home Loan program offers homeowners a financial incentive to help pay for large remodeling projects (valued at $50,000+).
- Borrow 15% of the project cost, with a maximum loan limit of $25,000
- No income limits, no payments, no interest
- For owner-occupied, single family homes
- The loan is due upon sale of the home or is forgiven after 30 years
Update: Funding Available - January 2020
No lottery or specific Application Period will be held in 2020. Applications will be accepted on a first-come, first-served basis dependent on funding availability.