Homeowner Repair Loan Qualifications
Who Qualifies?
Many homeowners within Racine qualify for a homeowner repair loan.
To qualify for a loan with the City of Racine, homeowners must be:
Current with mortgage payments.
Current with property taxes.
Have valid current property insurance.
Property is within the City of Racine city limits. (Other county residents are not eligible.)
Within annual published HUD household income guidelines.
In agreement with program funding rules.
To be eligible for the Housing Repair Program your income must fall within the appropriate household size. All household income will be verified using the last 3 years of tax returns, wage stubs, etc.
| HOUSEHOLD SIZE | 1 person | 2 persons | 3 persons | 4 persons | 5 persons | 6 persons |
| 30% Income | $20,450 | $23,400 | $26,300 | $31,200 | $36,580 | $41,960 |
| 50% Income | $34,100 | $38,950 | $43,800 | $48,650 | $52,550 | $56,450 |
| 80% Income | $54,500 | $62,300 | $70,100 | $77,850 | $84,100 | $90,350 |
Income updated per HUD: April 9, 2024
There is a $325. non-refundable application fee. $100. due at submission, remaining $225. is due at closing.