NOTICE TO CARNEYS POINT HOMEOWNERS!

The Township of Carneys Point Affordable Housing Program Is Accepting Applications from Homeowners for the Township Housing Rehabilitation Program for Home Repair Loans To Low And Moderate Income Homeowners.

TYPE OF LOANS & TERMS

Loans are issued in the form of “deferred loans”. Loan funds are secured by a mortgage note held by the Township of Carneys Point. Under most circumstances, when the deed of the property is transferred from the original applicant, the loan is repaid to the Township. At no time are monthly payments required or interest added.

ELIGIBLE REPAIRS

The purpose of the program is to address code related items & weatherization needs. The types of repairs covered are roofing, heating systems, electric, plumbing, structural issues, windows, doors, handrails, steps, smoke detectors, and CO detectors. Items are addressed by priority starting with major systems.

Additions and interior decorating are not eligible.

HOMEOWNER ELIGIBILITY

To qualify for a Housing Rehabilitation Loan, the applicant must meet the following eligibility requirements:

· Must Be an Owner Occupant (Full-Time Resident)

· Real Estate Taxes, HOA Fees, And Municipal Utilities

Must Be Current

· Homeowner’s And Flood Insurance Must Be Valid (If Applicable)

· Gross Annual HOUSEHOLD Income Must Be Less Than 80%

Of The Median Income Limits

(see table)