The County of Cumberland has applied for additional funding through a grant from the New Jersey Department of Community Affairs for the purpose of providing home repair loans to low and moderate income homeowners in municipalities approved by the Department.
Loans are issued in the form of “deferred loans”. Loan funds are secured by a mortgage note held by the County of Cumberland. Under most circumstances, when the deed of the property is transferred from the original applicant, the loan is repaid to the County. At no time are monthly payments required or interest added.
The purpose of the program is to address code related items and weatherization needs. The types of repairs covered are electric, plumbing, heating, roofing, structural issues, windows, doors handrails, steps, smoke and carbon monoxide detectors, painting and siding. Additions and interior decorating are not eligible.
To qualify for the Small Cities loan, the applicant must meet the following eligibility requirements: must be a full-time resident, gross annual HOUSEHOLD income must be below 80% of the moderate income limit, homeowners insurance must be current and flood insurance must be current (if applicable), real estate taxes and municipal utilities must be current and the property cannot have an existing Small Cities lien.
It should be noted that residents of Millville, Vineland and Bridgeton are not eligible for this program.
For income guidelines and to apply please click the apply today button to the right of the page, print and return to our office by email, fax or mail to Triad Associates, 1301 W Forest Grove Rd Vineland, NJ 08360.