$15,000 Home Rehabilitation Grant
Federal Home Loan Bank of Des Moines Affordable Housing Program 
Some of the funds for this program are provided by the Federal Home Loan Bank of Des Moines Affordable Housing Program.
This program provides funds to assist homewowners in repairing and rehabilitating their homes.
It is intended to help people who need significant work completed, but encounter difficulties securing all the needed resources.
*See qualifying eligibilty requirements.
Qualifying Eligibility Requirements
To qualify for this forgiveable loan you must meet the following criteria:
- Be at or below the income listed above for your household size. Household size includes all residents of the home. Income from all residents is included in the calculation
- The property must be owner occupied and be your primary residence
AND
Someone in the household must meet one of the following criteria:
- Age 62 years or older
- Mental or physical impairment
- HIV/AIDS
- Recovering from substance abuse
- Recovering from physical abuse
You will need to either borrow or provide any additional project costs, such as repairs above the $15,000 grant amount, contingency funds and Loan/project fees. You may borrow the remaining amount through NeighborWorks Pocatello’s Rehab loan program if you qualify.
All applicants are required to complete an informative orientation session, which is available via a video link we can provide you.
COMMON QUESTIONS & ANSWERS
Q: Can I bring my own money or use gifted funds to pay for the additional $5,000 plus in construction costs beyond the $15,000
A: Yes. You can either use your own funds or have them financed.
Q: If I finance the additional amount do I need to do it through NeighborWorks® Pocatello?
A: No, any lender is acceptable
Q: What are “hard” construction costs?
A: This is the amount that will actually go toward the construction for materials and labor. It does not include fees associated with financing.
Q: Do I personally have to meet the qualifications?
A: No. The grant does not require repayment once disbursed.
Q: Am I responsible for securing my own contractor(s) for the project?
A: Yes, but NWP can provide you with a listing of qualified contractors as well as a comprehensive “scope of work” document to share with your prospective contractor. This document spells out the details of the work needed. You are also required to obtain at least two competitive bids.
Q: If the cost of the repair work exceeds $15,000, how will this be covered?
A: If you meet certain criteria, NWP can provide you with a low-interest loan to cover these remaining costs. Otherwise, you would need to bring your own cash resources to the table to cover this shortfall.
Q: If the cost of the repair work is below $15,000, can I still qualify for the grant?
A: No. The grant is only available for projects where construction are at least $20,000. It is very likely that you project cost will not be exactly $15,000, so you will need to arrange (either through NWP’s loan program or on your own) to come up with the amount that exceeds $15,000.
Q: Do I have to pay back the $15,000?
A: No, but if you borrow any additional funds from NWP above and beyond the $15,000 grant, they will be paid back on a monthly amortizing basis.
