Corona CA Real Estate Housing Assistance Programs

Corona Real Estate Housing Assistance Programs

Corona Assisted Housing

Agencies redeveloping under state law set aside approx. 20% as required by CA state law of received funds for a project area under redevelopment for preserving and/or creating housing that is affordable. Corona's Redevelopment Agency traditionally has accomplished its goals by implementing housing programs which provide assistance within a very wide range of improving programs geared toward first time home buyers, city developments, neighborhoods, seniors and the existing home owner. The Home Investment Partnership Act (HIPA) used by this Agency helps to fund Coronas housing programs.

First Time Homebuyer Program

This program is currently under suspension per the Corona City Council action enacted 1/7/2004. With real estate appreciating in value in Corona and also stringent guidelines with regards to household income, there is a gap in availability in the FTHP. This will remain in place until each of these items are in accordance with a meaningful program which will at that point be available. You can check the city of Corona's website for updated information reagarding the First Time Home Buyer programs status. The Corona city website will also provide links and resources to alternative options to similar programs.

Loan Programs & Home Improvement Grants

There are currently grants available which cover financial assistance addressing deficiencies in both safety and health for qualifying existing home owners. Code violations are also covered under each of the two programs detailed below.

Home Improvement Loan Program (HIP) - This was designed for qualifying home owners in a low income category for general property maintenance with a 0% interest rate up to a maximum of $30k. There is also assistance available to mobile home owners which is limited slightly less at $10k. All monies borrowed through this program must be repaid on a schedule. You can visit the Corona city website for eligibility restrictions.
Minor Home Improvement Grant Program - As is above this grant is offered to home owners in a lower income catagory and should be used for the specific purposes of minor repairs around the home. Some of the items acceptable to use this grant would be fixing water heaters, leaky faucets, or minor electrical repairs. The cap on this grant is listed at $5k and does not need to be repaid. This is available to both existing home owners as well as mobile home owners. Visit the Corona city website for additional details and an income eligibility chart.

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