• Deferred Loan Program
• Direct Loan Program
• Home Improvement Loan Program

The Deferred Loan Program provides financial assistance to completely rehabilitate an owner-occupied residential dwelling unit. To qualify:

1. The property must be located within one of the six Local Investment Areas and be owner-occupied.

2. Eligible household income must not exceed 50% of the Area Median Family Income (AMFI).

3. The maximum amount of assistance is $35,000 or a lesser amount which will bring the structure into compliance with the Minimum Housing Code. If the structure cannot be brought into compliance with Deferred Loan Program funds, no assistance will be provided.

4. The financial assistance comes in the form of a zero interest deferred loan. A mortgage will be placed on the property in the amount of assistance received, and will be reduced by 10% per year for the first 5 years and the balance will be payable when the recipient no longer resides in the property.

For more information, contact Neighborhood Improvement Services at (316) 462-3712.

The Direct Loan Program provides financial assistance to completely rehabilitate an owner-occupied residential dwelling unit. To qualify:

1. The property must be located within one of the six Local Investment Areas and be owner-occupied.

2. Eligible household income must not exceed 80% of the Area Median Family Income Income (AMFI).

3. The applicant must be credit worthy and have the ability to repay the loan.

4. The interest rate for a household with gross income of 50% of AMFI is 0%. The interest rate for households with gross income of 80% of AMFI is 4%.

5. The maximum amount of assistance is $35,000 or a lesser amount which will bring the structure into compliance with the Minimum Housing Code. If the structure cannot be brought into compliance with Direct Loan Program funds, no assistance will be provided.

6. Monthly loan payments (principal and interest) shall not cause the household's monthly obligations to exceed 40% of the applicant's monthly income. The maximum repayment period is 20 years.

For more information, contact Neighborhood Improvement Services at (316) 462-3712.

The City of Wichita and Capitol Federal Savings and Loan have partnered to provide low-interest rehabilitation loans to owner-occupants of residential dwellings. Capitol Federal provides the funds and the City of Wichita subsidizes the interest rate to make it more affordable. To qualify:

1. The property must be located within the Redevelopment Incentives Area and be owner occupied.

2. Eligible household income must not exceed 80% of Area Median Family Income (AMFI)

3. The applicant must be credit worthy with the ability to repay the loan.

4. The maximum amount of assistance, provided there is adequate equity, is $15,000 with a maximum payback period of 10 years.

For more information, contact Neighborhood Improvement Services at (316) 462-3712.

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