The City of Jackson provides low-income homeowners and rental property owners with a variety of loans for the repair of residential properties. The loans are from federal sources, with 0% interest rates and are designed to make repairs more easily affordable while bringing properties up to code.
Standard Loan Process
- Submit an application
- Applicant financial interview is conducted
- Property is inspected with results being sent to the applicant
- Repair bids are requested from 3 contractors
- Scope of project is reviewed with applicant, inspector, and financial assistant
- Contractor agreement is prepared for review and adjusted if needed
- Loan closing is conducted and mortgage documents are recorded
- Construction contract is signed and contractor obtains necessary permits
- Work is performed
- Work is inspected, contractor waivers of lien are obtained, owner signs for acceptance of work, and contractor is paid
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