The City of McKinney offers a Housing Rehabilitation and Reconstruction Loan Program that is funded by the HOME Investment Partnership Program and the Community Development Block Grant in order to provide home repairs for low- and moderate-income homeowners. More than 60 families are able to make emergency repairs, small repairs and perform minor home rehabilitation projects. There is a $50,000 limit, although the city does offer a Home Reconstruction program for major repairs that may cost more than $50,000.

Eligibility for Loans

In order to be eligible for the low-interest loans, homeowners must meet income requirements. A household of one person cannot earn more than $39,450 per year and the income levels go up depending on the number of people living in the household. A family of four must not make more than $56,300 while a family of eight must not make more than $74,350. Income of all family members, except minors under 18, must be included in the income determination. Title in the home must be in the applicants name and they must have lived in the residence for at least one year. Mortgage payments must be current and the owner must agree to remain in the home for at least five years. Property taxes and other debts owed to the city must also be current.

Property Eligibility

In order for the property to be eligible, it must be owner-occupied and a single family dwelling. The property must have adequate homeowner’s insurance. However, if insurance as been denied due to the condition of the dwelling, the applicant may provide proof of the denial along with a homeowner’s quote from a licensed insurance agency at the time of application. The homeowner must agree to provide proof of insurance no less than one month after the work is completed. The City of McKinney must be listed as an additional mortgagee on the insurance policy. Mobile homes are not eligible for the program.

Types of Projects

The loans can be used for basic rehabilitation projects, such as bringing a structure into acceptable living condition or correction of health and safety code violations. The loan can also be used for disabled access, such as installation of ramps, widening doors or lowering of sinks and countertops. HVAC repairs may be performed using loan proceeds, although the purchase of window units is not permitted. The applicant must also agree to remove all unvented space heaters. Emergency repairs for items that may threaten the health or safety of those living in the household , such as loss of heat during cold weather, may qualify for immediate repairs up to $5,000 as long as all other qualifications are met.

If your HVAC system has failed or is not working properly, you may qualify for this program through the City of McKinney. Contact AAA Air to learn more about how this program can help you complete the necessary repairs to your HVAC system so that you are cool in the summer and warm in the winter. Visit us online or by phone today to learn what options you may have to bring your heating and air conditioning back online.