Simi Valley Offers Quake Loans at Low Interest
- Share via
Needy residents in Simi Valley interested in fixing up their homes or repairing earthquake damage may qualify for low-interest loans through the city.
Government-subsidized loans of up to $20,000 are available to low- and moderate-income homeowners in Simi Valley. Loans are also available to owners of mobile homes.
The city will offer loans of up to $15,000 at 3% interest, with the interest deferred until the home is sold, and amortized low-interest loans of up to $20,000, which would be payable over 15 years at an interest rate 6 percentage points below prevailing market rates, but not to drop below 4%.
The loans may be used to repair earthquake damage, but they are also available for making basic home repairs, such as putting on a new roof, and adding new paint, plumbing, or a new driveway.
Funding for the loans is provided in part by a federal community Development Block Grant program and the local Community Development Agency.
For more information, call the city’s Home Rehabilitation Program at 583-6757.
More From the Los Angeles Times
Podcasts
UCLA professor and climate scientist, Alex Hall, joins host Kate Cagle to talk about how we can better prepare ourselves for the next mega-fire, including a proposal to create a classification system – and a standardized response – for Santa Ana wind storms, similar to the one we use for hurricanes in the U.S.
The Hillside Strangler murders terrorized Los Angeles in the late 1970s. The killers were a pair of sadistic cousins. One confessed. The other was set to stand trial—until L.A. prosecutors flinched.
Hosts Fidel Martínez and Suzy Exposito sit down with actor and stand-up comedian Fabrizio Guido — currently starring in Netflix’s Running Point — for a conversation about growing up all over LA, making his film debut alongside Brad Pitt in World War Z at age 12, and what it took to build a career from child actor to leading man.
