Residential development Loans

The City of Johnstown offers three housing programs designed to promote maintenance of owner-occupied and rental housing units and to increase home ownership opportunities for low and middle income households.

All three programs seek to address elements that lead to disinvestment and blight such as structural defects, code violations, lead-based paint hazards, and weatherization improvements in order to ensure a desirable housing stock throughout the City. Availability of funds, property condition, and income requirements all determine eligibility for these activities.

The City's Community Development Block Grant (CDBG) from the U.S. Department of Housing and Urban Development (HUD) funds all three programs. Moreover, the City utilizes HUD income thresholds in order to determine income eligibility.

Household income Limit Summary for FY 2013

Household Members

Maximum Income

31, 500

36, 000

40, 500

44, 950

48, 550

52, 150

55, 750

59, 350

Owner Occupied Housing Rehabilitation Program



The Owner Occupied Housing Rehabilitation Program offers a deferred loan to income eligible homeowners to address code violations, weatherization improvements and lead-based paint hazards in their home.
Eligible households may borrow up to , 000 for a single family structure and , 000 for a two unit structure. Furthermore, eligible homeowners may borrow an additional , 500 to render their home handicap accessible.

The deferred loans terms include zero percent interest and no monthly payments. However, a lien is placed on the property to be repaid when the structure is sold or title is transferred. The borrower can request loan forgiveness if the property remains free of code and energy violations and occupied by the borrower as a primary residence for the term of the lien. Inspections are conducted by the City to insure the participants have complied with all program guidelines.

The following chart shows the determination of the lien term.

Loan Amount

# of Units

Lien Term


$22, 000

5 years

Owner Occupied

10 years

First Time Home Buyer

$10, 000

Per unit

Landlord Rehab

$24, 000

$5, 000

1 year

Emergency Repair

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Pluto bumps up loan cap by £70m  — Bridging and Commerical
Pluto, a specialist in residential development loans for the last five years, has also informed B&C that it will be looking at further ways to enhance its offerings in the near future.


What banks are giving residential mortgage loans?

Most banks offers residential mortgage loans, one should check with their local area bank. HSBC, Scotiabank, CIBC and RBC Royal Bank to name a few places.