Daily News Where you Live
Senior home repair loan program expands
A Springfield-based lending program has lowered its age requirements for Marion and Lane county seniors making repair, maintenance and remodel projects that make their homes safe for use.
Community Lending Works, which is the lending arm of Neighborhood Economic Development Corp. (NEDCO), has lowered the age requirements for low interest Aging in Place loans from 65 to 62, said Cat Taylor, program coordinator.
The loans are for folks who need some improvement to their home or maintenance to make it livable for them, such as someone who had an accident and needs a ramp, Taylor said.
Seniors may qualify for loans up to $20,000 with fixed rates starting at 4 percent APR. Income limits apply. Home owners can manage their project utilizing NEDCO staff and their personalized planning assistance. For more information, call 541.345.0446 or visit http://www.nedcocdc.org/.