How do I qualify for Owner Occupied Rehabilitation Program assistance?
- Households must meet income limit guidelines
- Mortgage and Property Taxes must be current
- Property must be:
-
- located in Port St. Lucie city limits
- the primary residence of the homeowner/applicant for 1 year or more
- assessed at $509,943 or less
- Protected by homeowner’s insurance in an amount that to covers the maximum amount of assistance available minimum.
What are the income limits?
Households must be classified under S.H.I.P. guidelines to be eligible for the program. Income includes gross wages, income from assets, retirement, social security, disability, unemployment and any other resources or benefits received by household members age 18 and older. Household income must not exceed the current income limits (adjusted for family size) are as follows:
2024 Income Limits by family size:
| Family Size |
Extremely Low |
Very Low |
Low |
|
1
|
$19,250
|
$32,100
|
$51,350
|
|
2
|
$22,000
|
$36,700
|
$58,700
|
|
3
|
$25,820
|
$41,300
|
$66,050
|
|
4
|
$31,200
|
$45,850
|
$73,350
|
|
5
|
$36,580
|
$49,550
|
$79,250
|
|
6
|
$41,960
|
$53,200
|
$85,100
|
|
7
|
$47,340
|
$56,900
|
$91,000
|
|
8
|
$52,720
|
$60,550
|
$96,850
|
Is there a limit on cash I may have saved?
Cash available should not exceed $15,000. Extenuating circumstances may be considered.
How much assistance is available?
- Comprehensive Repair Rehabilitation program is $50,000
- Limited Repair Rehabilitation program is $15,000
- Accessibility/Retrofit (Special Needs) program is $15,000
- Disaster Recovery program is $25,000
- Water or Sewer Connection program is $7,600 (Grant)
- Water/Sewer Assessment program is $5,000 (Grant)
Do I pay back the money I receive?
Assistance is in the form of a deferred payment loan (DPL). You will sign a note and mortgage for the maximum amount of assistance available. When all repairs are completed, you will sign a corrective note for the actual amount of program funding utilized. The mortgage will be recorded as a lien against your property until the note is satisfied. There is no interest and no payments are made unless there is a default, or the home is sold.
- The DPL for Comprehensive Repair/Rehabilitation Program will be forgiven at the rate of 1/15 of the amount of assistance each year until the entire amount of the loan is forgiven in its entirety after 15 years.
- The DPL for Limited Repair/Rehabilitation, Accessibility/Retrofit and Disaster Recovery Programs will be forgiven at the rate of 20% of the amount of assistance each year until the entire amount of the loan is forgiven in its entirety after 5 years.
Can I repair/rehab my manufactured home?
Manufactured homes do not qualify for assistance under this program.
What types of home repair/rehab and/or special needs items will qualify?
The program provides funds to assist in eliminating housing related code violations, and correcting safety and sanitary issues. We may also provide wind mitigation improvements, such as hurricane shutters, or accessibility/retrofit items to assist disabled household members with increased access and/or use of their homes. These modifications include either structural adaptations or addition of apparatus that is permanently affixed to the housing unit.
Pools and/or hot tubs are not eligible for repair. A home inspection is performed, and the inspector and housing coordinator will provide you with a list of approved repairs.
Illegal structures and non-permitted repairs/remodeling, such as converted garages, non-permitted electrical repairs, etc. will need to be removed, returned to the original use, or brought up to code if the work is eligible and there is sufficient funding; otherwise the matter will be referred to the building department for appropriate action.
Does Neighborhood Services hire the contractors?
You select your own licensed contractors. You must obtain three (3) bids for each job. Bids must be based on standard builder-grade replacements/improvements. For jobs of $2,500 or more we will schedule a pre-construction conference with you, the contractor(s), and a representative from our inspection service. You will review and sign a written agreement with the contractor(s), indicating the general requirements for any work funded under the Program.
Do I need to have good credit to get assistance?
Applicants do not need to have good credit to apply. However, if your home is in foreclosure, if a bankruptcy action affecting the home has been filed, if you are behind on your home loan payment or property taxes, or if it appears you cannot sustain your housing payment, or pay impending taxes or homeowner’s insurance, the funding may be delayed until the payments are brought current or sustainability has been established.
How do I apply for assistance?
The City is not accepting applications at this time. Neighborhood Services establishes a list for clients who need assistance when funding is available. For information on funding availability, please call 772-871-5284, check the Housing Programs page, or send an email to nsd@cityofpsl.com. Clients on the application list will be chosen on a first come, first served basis unless selection by income is required to maintain compliance with State guidelines. Special Needs applicants may also receive priority in order to maintain required set-asides for funding.
When will I know if I have been selected?
We are required to send verifications to confirm all sources of income and assets. This process usually takes a few weeks. If you are qualified, your file will be chosen on a “first-come, first-ready” basis. You will receive a letter letting you know whether you have been selected and the status of your application.
Can I apply for assistance more than once?
Households may not qualify for additional funding under the same strategy even if the original loan has been satisfied.
Will I be allowed to refinance if I receive housing assistance?
In order for you to receive assistance, we place a mortgage against your property and must approve of any refinancing that you may be considering. The City’s current policy allows for refinancing (subordination of our mortgage), if the household will benefit with an interest rate and/or housing payment reduction sufficient to offset the costs of refinancing. You may not receive any funds
(cash out) in the transaction, but the City may approve of funds paid directly to a contractor for home improvements. In general, the City will require that its original mortgage position be maintained, and that tax and insurance payments be escrowed. This policy is subject to change at any time.