The Housing Services Program is a home repair and improvement program serving property owners within the Salinas city limits. Through the HSP, the City of Salinas provides technical and financial assistance, allowing qualifying property owners to correct deficiencies and improve the livability of their residential property. Low interest loans in amounts up to $72,000 are available to eligible property owners to make repairs to their residential property. The loans are processed and administered by the HSP, with an interest rate of 5% for owner-occupied residences and 6% for the owners of rental property. The loans have an amortized term of 15 years. The rates and terms of the program are established by the City Council and are subject to change. In certain hardship situations, repayment of the loan may be deferred. In these instances the interest rate is 3% and the loan is reviewed every five years. There is no charge for the HSP loan or the staff time. However, the property owner is responsible for all project costs and fees such as: title insurance, appraisal, plan preparation, etc. These costs may be wrapped into the loan.
Eligibility: Loans are available for owner-occupant households with an income not exceeding 80% of the median income for Salinas, adjusted for family size, as noted in table below. Rental properties may also be assisted, however, tenants must meet the same income guidelines and rents are restricted for the term of the loan:
Eligible Improvements: roofs, plumbing systems, windows, foundations, floors, electrical systems, bathrooms, kitchens, termite damage, etc.