The Home Improvement Loan Program (HILP) focuses on improving housing stock within the City of West Covina. The Community Development Commission makes no-interest loans available to low-income homeowners that are in need of interior and exterior improvements. This program has been available since 1975 and is funded with Redevelopment Housing Set-A-Side funds. 

THIS PROGRAM IS CURRENTLY NOT AVAILABLE DUE TO THE STATE'S ELMINATION OF REDEVELOPMENT AGENCIES.

Objective

Over the past several years, a large percentage of the housing stock within the City has matured and is now in need of a face-lift. This Program was adopted as part of the budget to protect and preserve the single-family housing stock.

Qualification for the program is based on county income limits provided by the State of California Department of Housing and Community Development. Please refer to the specific income guidelines

2010 MAXIMUM INCOME LIMITS

(Based on current effective median income of Los Angeles County. Revised annually as set forth in 25 Cal. Code Regs. Section 6932)
As of June 17, 2010.

Program Guidelines

The Program will provide eligible, low-income West Covina homeowners a no-interest home improvement loan of up to $10,000. To be eligible, a single-family home must be the primary residence and the homeowner must have resided in the home for a minimum of six (6) months.>

Basic Requirements

• Must be a homeowner residing within the City of West Covina.
• Income must meet qualifying income guidelines.
• Maximum loan of $10,000 plus a $50 bank-processing fee.

Financing Provisions

• Loan must be paid back in a lump sum.
• Only licensed contractors can be used. Should the homeowner wish to do the work, the Community Development Commission will pay for materials only; no equipment, labor or tool costs will be paid. All payments will be made upon completion of work.
• A homeowner may apply more than once, but not in the same fiscal year (July 1 to June 30) and as long as the maximum loan amount is not exceeded.
• Homeowners will be required to execute a promissory note secured by a deed of trust.

Payment Provisions

• When the property is sold or title is transferred (includes transfer within family).
• Upon the death of the Title holder(s) of the property [the homeowner(s)].
• Upon the homeowner refinancing their primary loan(s) or a take-out financing.
• If the homeowner is in default of the loan agreement.
• When the property fails to be maintained according to City building codes; or when the homeowner no longer resides in the house.