The City of Sheboygan’s Department of Planning and Development, together with the Finance Department, recently implemented a new software program that promises to make the application process for its federally-funded loan programs more user friendly. Beginning Monday, April 26, 2021, low-income to moderate-income city residents can use the new online portal to apply for assistance through the Housing Rehabilitation Loan Program. The Neighborly Software platform is accepting applications for other federally-funded programs such as the City’s Business Development Loan Program and Public Service program.
The Housing Rehabilitation Loan Program provides funds to income-qualified homeowners for a variety of exterior improvements including windows, doors, siding, porch replacement, concrete driveway/pad, and roof replacement, among other rehabilitation projects. Using federal Community Development Block Grant (CDBG) funds, the program offers no-interest and low-interest loans up to $24,999.
To qualify, applicants must meet low-income to moderate-income requirements and the property to be rehabilitated must have available equity. Loan terms are dependent on income level and property type. For owner-occupied properties, loans range from 0%-4% interest and can either be deferred – suspending payments as long as the applicant remains in the home – or may require monthly payments for a loan term of 10 years. A 15-year loan at 4% interest is available for renter-occupied properties. As a revolving loan program, repayment revenue is used to fund future rehabilitation projects in the City of Sheboygan.
Both owner-occupied and renter-occupied properties are eligible to apply at portal.neighborlysoftware.com/SHEBOYGANWI/Participant.
Neighborly Software is a purpose-driven company that provides cloud-based software solutions to improve the administrative efficiency and regulatory compliance of Housing, Economic, and Community Development programs.
For more information on these programs, please contact the Department of Planning and Development staff at 920-459-3377 or by email at development@sheboyganwi.gov