Home Improvement Program Matrix

Housing Loans and Incentives

Program Features	CDBG Housing Improvement Loan	Sold on Oshkosh	Owner Occupied Rehab Loan	New Homes in Our Neighborhoods
Maximum Loan/Grant Amount	$30,000	$7,500	$30,000	$25,000
Minimum Loan Amount	$5,000	$1,000 or $1,500 forgiven annually	$5,000	N/A
Eligible Improvements	Exterior improvements, plumbing, electrical, HVAC, painting, general repairs. No remodeling.	N/A - Downpayment Assistance	Siding, painting, windows, doors, roofing, HVAC, electrical, plumbing, additions, renewable/green infrastructure, driveway and garage, renovations, and lead remediation	New homes on infill lots owned by the RDA
Interest Rate	0%	0%	0%	N/A
Loan Term	Deferred	5 years	15 years	Reimbursed upon project completion
Income Limit	Cannot exceed 80% of the HUD Median Household Income Limits	Cannot exceed 120% of the HUD Median Household Income Limits	Cannot exceed 120% of the HUD Median Household Income Limits	N/A
Asset Limit	$50,000 - liquid assets only	N/A	N/A	N/A
Credit Check	Bankruptcies, judgements, and liens all factor in	Bankruptcies, judgements, and liens all factor in	Bankruptcies, judgements, and liens all factor in	Bankruptcies, judgements, and liens all factor in
Loan to Value Ratio	95% max	95% max	95% max	N/A
Debt to Income Ratio	N/A - must be low-moderate income.	Cannot spend more than 30% of gross monthly income on housing expenses (for owners housing expenses include mortgage payment, taxes, homeowners insurance and utilities; for renters housing expenses include rent and utilities).	Cannot spend more than 30% of gross monthly income on housing expenses (for owners housing expenses include mortgage payment, taxes, homeowners insurance and utilities; for renters housing expenses include rent and utilities).	N/A
Eligible Partners	Priority neighborhoods and LMI	N/A	N/A	RDA owned infill lots

Oshkosh Healthy Neighborhoods Program (GO HNI)

Program Features	Good Neighbor Grant
Maximum Loan/Grant Amount	$750
Minimum Loan Amount	Applicant must spend at least $250 to receive $750.
Eligible Improvements	Projects that enhance the appearance of the property along the street frontage. (ex: exterior painting, step replacement, landscaping, and cleaning masonry).
Interest Rate	N/A
Loan Term	Reimbursed upon project completion
Income Limit	N/A
Asset Limit	N/A
Credit Check	N/A
Loan to Value Ratio	N/A
Debt to Income Ratio	N/A
Eligible Partners	Must be within a recognized neighborhood association and must be the homeowner

For questions please contact the Econ Dev Department at 920-236-5058. This information is subject to change.