Rehabilitation Loans – Colorado Department of Local Affairs, Division of Housing

Have you been waiting to pursue a home-repair project? Do you own your home?
Home improvement loans are available below market rates and with flexible terms to help with your homes’ health, safety, efficiency, and quality.

A major concern of Gunnison County homeowners is keeping up with necessary but costly repairs. This is particularly true of older homes with weathered roofs, worn siding, outdated plumbing and heating systems, drafty windows, or outmoded electrical wiring.

Through the Colorado Division of Housing, low-interest Single-Family Owner-Occupied (SFOO) loans as part of the Housing Rehabilitation Program are available for qualified applicant homeowners who live in their house as their primary residence to provide funds for needed repairs and updates to homes in Gunnison County.

The goal of the Program is to provide money for home repairs: To remove deficiencies or health and safety hazards, correct substandard conditions, correct violations of local housing codes, maintain housing stock and historical preservation, and improve energy efficiency.

The minimum loan amount is $1,000. The maximum loan amount $24,999 with some exceptions. The payment is based on what the borrower can afford. 

The loan program has some funding available for low interest loans to manufactured housing on rented lost. Additional emergency repair loans up to $5,000 dollars are also available for manufactured homes on rented lots.

To be eligible for the program, the homeowner needs to be at 80% AMI (Area Median Income). Minimum income levels are set at 50% AMI. For Gunnison County in 2021 80% AMI is:

  • One-Person Household | $44,350
  • Two-Person Household | $50,650
  • Three-Person Household | $57,000
  • Four-Person Household | $63,300

For more information on how to apply, please see the Information Sheet here.

Are you a contractor? We are looking for contractors to get involved in the program. Contact Gesa Michel at 970-234-5613 or email to learn more.

Equal Opportunity Lender Statement – Agencies must operate as equal opportunity lenders and will not discriminate against anyone in their lending practices or in any other of its decision-making processes because of race, color, religion, gender, handicap, family status or national origin. Agencies will not discriminate against anyone through their lending practices or in any other decision-making processes due to race, color, religion, gender, disability, sexual preference, age, family status and/or national origin.

Home improvement projects in Delta: Before (left) and After (right) which installed new siding, windows, repaired electrical wiring, removed flue and sealed attic.