Rehab grant for $20-25k

Rehabbing, Fix and Flip, Rental Properties
1

I was in a diner yesterday in another part of the state and I saw a flyer on their bulletin board that was put up by a reputable area mortgage company for rehab grants. The grants were sponsered by the state of CT and for up to $20k on a sfh and $25k on a 2-4mfh. Anyone ever hear of this? It was in New London and specifically mentioned New London, not sure if this is a local thing for that town only or not. If you’re interested you have to go to a meeting on I think 1/23. I’ll grab the flyer and post details when I have a chance to go out to my car. Anyone ever hear of something like this?

2

My educated guess is that it is local incentive offered by your state’s housing finance agency.

You might want to contact the agency directly to learn more:

Connecticut Housing Finance Authority
999 West Street
Rocky Hill, CT 06067
(860) 721-9501 - Phone
(860) 571-4367 - Fax
www.chfa.org

Regards,

Scott Miller

3

I would be interested, I wish MA did that!

4

Who says they don’t (I’m from MA too; Worcester County and you)?

Mass Housing has some interesting development programs (check out http://tinyurl.com/24w2eq) and they very well might have a rehab program as well. Check out and let us know:

MassHousing
One Beacon Street
Boston, MA 02108
(617) 854-1000 - Phone
(617) 854-1029 - Fax
(617) 854-1025 - TTY
www.masshousing.com

Regards,

Scott Miller

5

I contacted them when I was going to rehab a 48 unit in Springfield, they were more then willing to fund it but didn’t offer any grants.

6

There are a handful of non-profit DPA cos. that assist with grants for mixed use and commercial property, but they are limited to down payment assistance (not rehab)…

Regards,

Scott Miller

7

Some neighborhoods in San Diego have similar programs. They offer up to $15,000 for interior repairs and up to $10,000 for exterior repairs at 3% simple interest. The caveats are that you either have to live in the property for 5 to 10 years or resell the property to someone that makes less than 100% of the neighborhoods median income (which pretty much means that they can’t afford to buy a house in San Diego).