Zero interest loans for homeowners

Twelve Burlington County households can make much-needed repairs and improvements to their homes in 2025 with the help of zero-interest loans.

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The county commissioners approved close to $300,000 in loans during their Dec. 27 meeting that will help low- and moderate-income recipients with repairs to correct conditions that negatively impact health and safety. Each loan provides up to $25,000 in deferred payments to income-eligible homeowners.

In the past, residents who qualified for the loans were required to repay the full amount without interest when their home was sold or they moved. Loans will now be forgiven if recipients live in a house for 10 years.

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The loans are funded by the U.S. Department of Housing and Urban Development (HUD) and administered by the Community Development and Housing Division of the county’s Department of Human Services. To qualify, a resident must be the legal owner of a property that serves as its principal residence. Income limits are set by HUD rules and applications are accepted contingent on the availability of federal funds.

In addition to the home-improvement loans, the county provides emergency home repair and heater/AC replacement grants up to $10,000 to income-eligible homeowners. The commissioners also approved changes that will make both grant programs more responsive.

Many of the changes were funded with federal aid sent to the county as part of the American Rescue Plan Act, a response to COVID.