Low-interest rate loans are available to assist qualified low-income homeowners who require rehabilitation for their homes. The Pasadena Community Development Commission funds two loan programs which are administered by Pasadena Neighborhood Housing Services, Inc. (PNHS), a private, non-profit, community-based housing organization.
This program is available to assist qualified homeowners in Northwest Pasadena. The maximum loan amount is $25,000. Interest rates and loan terms are based on the borrower’s ability to repay the loan.
Loan funds under this program will be provided by local banks, with the Pasadena Community Development Commission providing interest rate write-down subsidies. The property can be a 1-4 unit dwelling or a condominium. Borrowers must occupy the property as their primary residence. The maximum loan amount is $25,000 but may be increased for properties requiring substantial rehabilitation. For more information on the Neighborhood Impact or Homeowner Residential Rehabilitation loan programs, please contact PNHS at 1190 N. Fair Oaks Ave., Suite 102 Pasadena, CA 91103; (626) 794-7191
This program provides services to low-income senior or disabled homeowners who are not able to perform deferred maintenance on their owner-occupied, single-family homes. The MASH program is comprised of:
For further information, please contact the MASH program, City of Pasadena, (626) 744-7620.
The Pasadena Community Development Commission provides loan assistance for rehabilitation of multi-family rental properties which are occupied by very low and low income tenants paying affordable rents. The loan term is determined by the amount of loan funds utilized on a per-unit basis. The interest rate is 4% and repayment schedules are determined by the project’s cash flow. A rental covenant to maintain rent affordability is enforced during the loan term. For further information on this program, please contact Aldra Allison, Project Manager, Housing Department at (626) 744-8314 or e-mail to: email@example.com