-Home Improvement Loan Program-

Dear Homeowner:

Thank you for your interest in the City of West Covina Community Development Commission (CDC) Home Improvement Loan Program.

The goal of the program is to encourage pride in ownership by offering deferred loans for eligible home improvements. To qualify, you must be a West Covina homeowner and earn no more than the maximum income limit established for the program.

If you qualify, you may apply for a no-interest deferred payment loan amount of up to $10,000. A $50 processing fee is added to the loan amount. The loan is secured by a deed of trust; therefore you must supply the CDC with a recorded copy of the deed of trust to your home.

An inspection of your home is required before any work can commence. Our staff will work with you in listing the improvements which may be funded through the program. Please note that any and all building/safety code violations are required to be corrected within a reasonable time period regardless of whether you choose to participate in this program.

Attached is a Home Improvement Loan application packet and a brochure which provides answers to the most commonly asked questions regarding the program. It is very important that you carefully review all the enclosed documents before you begin to supply the requested information.

BECAUSE THE PROGRAM IS SO POPULAR, WE ASK THAT YOUR COMPLETED APPLICATION BE SUBMITTED BEFORE THE DATE STAMPED AT THE TOP OF THIS LETTER. In the event your complete application is not received by the CDC within the specified two-week period, you will lose your place on the program's waiting list and have to reapply. If you qualify for a loan, you will have up to one year to complete all work after the loan is made.

You may mail or hand deliver your completed loan application packet to the CDC located at West Covina City Hall, Second Floor, Room 218, 1444 West Garvey Avenue South, West Covina, CA 91790. Please allow three to five business days from receipt of your application for CDC staff to process your loan request. In order for your application to be processed, we must have a copy of your Deed of Trust.

If you have any questions after reviewing the loan application packet, please call Barbara Banks, Housing Program Coordinator.

Sincerely,

Christopher J. Chung
Redevelopment Director

1444 W. Garvey Avenue
P.O. Box 1440
West Covina, CA 91793
Phone (626) 939-8432
Fax (626) 939-8665


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