Related Files:Closing Cost Guidelines Community Development Draft Consolidated Plan July 2015 - June 2020 Down Payment Guidelines FY2014 - FY2015 New Income Limits HUD-CDBG Rehab Program Guide 2014 - 2015 Scholarship Application 2015 Scholarship Renewal Application 2015 FY15-FY16 Income Level Limits DR Qtrly Performance Reports - April- June 2012 DR Qtrly Performance Reports - April- June 2013 DR Qtrly Performance Reports - January - March 2014 DR Qtrly Performance Reports - January - March 2012 DR Qtrly Performance Reports - January - March 2013 DR Qtrly Performance Reports - July - September 2011 DR Qtrly Performance Reports - October - December 2014 DR Qtrly Performance Reports - October - December 2012 DR Qtrly Performance Reports - July - September 2012 DR Qtrly Performance Reports - July - September 2013 DR Qtrly Performance Reports - July - September 2014 DR Qtrly Performance Reports - October - December 2011 DR Qtrly Performance Reports - October - December 2013 Employment Opportunity - Contractors For Residential Rehab Program - Application Employment Opportunity - Contractors For Residential Rehab Program - Add Grant Program for Homeowners Quarterly Performance Report for Cranston's Disaster Recovery Grant for the quarter ending 12/31/12 City Of Cranston Disaster Recovery Action Plan - Amended 01032013
The City of Cranston has been awarded a Community Development Block Grant from the U. S. Department of Housing and Urban Development in the amount of $1,018,606 for fiscal year 2015-2016. These funds will be used to support a wide range of activities specifically targeted to benefit persons of very low and low income. HUD income limits according to household size are listed below. Program examples supported by these CDBG funds include housing rehabilitation, emergency fuel assistance, minority outreach health programs, Adult Day Care and a Mayor’s Scholarship Program.
Housing Rehabilitation Loan Program
This program provides low-interest loans to income eligible Cranston homeowners to assist them in making needed repairs and improvements to their homes and to correct code violations. Program is available for single family to three family buildings and property must be owner occupied. Typical improvements include roofs, vinyl siding, replacement windows, doors, and gutters. Depending on an applicant’s household income, this loan program includes a 0% deferred or a 2% interest loan with a 15 year amortization.
Funds can not be used for new construction.
First Time Home Buyers Programs
The Department of Community Development offers two programs for first time income eligible home buyers purchasing a home in the City of Cranston. The assistance given at time of closing becomes a grant after homeowner has resided in the property for five years.
Closing Cost Assistance Program
This program is available to first time income eligible home buyers to help defray some of the fees incurred at closing. This five year grant will provide up to $3,000 toward closing costs.
Down Payment Assistance Program
The Down payment assistance program provides 50% of the required down payment, not to exceed $5,000. This matching fund program is available to first time income eligible homeowners but can not be combined with the Closing Cost Assistance Program.
FOR FURTHER INFORMATION OR TO APPLY FOR THESE PROGRAMS,
PLEASE CALL FRAN FALCONE AT 401-461-1000 EXT 7205 or E-Mail at email@example.com
|Income Level||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|15,651 - 26,050||17,851 - 29,800||20,101 - 33,500||24,251 - 37,200||28,411 - 40,200||32,571 - 43,200||36,731 - 46,150||40,891 - 49,150|
|26,051 – 41,650||29,801 - 47,600||33,501 - 53,550||37,201 - 59,500||40,201 - 64,300||43,201 - 69,050||46,151 - 73,800||49,151 - 78,550|