City of Stevens Point, through its Community Development office, officially announced in 2023 a low-interest loan program intended to assist residents in making repairs and updates to their homes. The program, titled the “Housing Modernization Loan Program,” is now open to city residents.
In 2017, the City of Stevens Point received a complete housing study with a clear recommendation to establish a loan program intended to assist residents in making repairs and upgrades to their homes. Now available to residents, the loan program will assist a limited number of residents by providing a 2% interest loan with available finances. Loan payments are recycled back into the program to sustain and grow the program.
“There are plenty of residents in our city that would benefit from upgrades to their homes that are just out of their financial reach,” says Mayor Mike Wiza. “With the launch of the Housing Modernization Loan Program, we hope to provide residents a more favorable way of repairing and updating their homes, which will result in increased savings in our community.”
The Housing Modernization Loan Program complements three grant programs managed by the City of Stevens Point and additional programs managed by CAP Services to support local home ownership. The Neighbor Helping Neighbor grant has also been expanded to reimburse income-qualifying residents from $1,000 up to $5,000 for exterior repairs. The new loan program expands financial assistance to a wider range of homeowners while the City prepares to review recent recommendations from the Housing Taskforce.
City staff encourages all home-owning residents and residents planning for homeownership to investigate available resources. Housing grant and loan programs managed by the City of Stevens Point and other local organizations can be found online at stevenspoint.com and by searching ‘Homeowner Help.’ Further information about the Housing Taskforce and 2017 Housing Study can also be found online via search at stevenspoint.com. Questions about specific programs managed by the City can be directed to Chris Klesmith, Neighborhood Planner & Economic Development Specialist, at [email protected].
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