Low-Income Home Rehabilitation Revolving Loan Program
Commerce just received $5 million from the legislature to fund our new Low-Income Home Rehabilitation Revolving Loan Program.
This exciting new program is designed to help low-income households who need home repairs done before they can qualify for our weatherization program. Half of all the families who apply for weatherization live with rotting floors, bad plumbing, and leaky roofs. This work is beyond the scope of the weatherization program. But now, with our revolving loan fund, we can make those repairs. Families can defer the loan until their house is sold or pay it off earlier if they want.
Commerce will spend the next 4-6 months in the rulemaking progress. After that we’ll focus on getting our local agencies trained and up to speed as soon as possible. This is a big step in filling the gap between what we can do and what the people of Washington need.
Contact Amanda Rains if you’re interested in hearing more about this new program.