Plano Housing Rehabilitation Program

Plano Housing Rehabilitation Program is a program that provides financial assistance to rehabilitate single-family homes. Property must be located in the city of Plano.

Eligibility Requirements

The following eligibility requirements must be met:

  • All applicants must be Income eligible
  • The title of the property must be in the name of the applicant(s)
  • Mortgage payment, property taxes and homeowner’s insurance must be current
  • Not be delinquent on any federal debts
  • Be a permanent legal resident or United States citizen
  • Occupy the property as a primary residence
  • All qualified retirement plans, other non-retirement accounts and financial assets must not exceed $150,000, liquid asset cannot exceed $75,000
  • Property must be located in Plano
  • Meet other underwriting parameters per program requirements

Program Income Limits

Family SizeIncome Limit
1-person$54,550
2-person$62,350
3-person$70,150
4-person$77,900
5-person$84,150
6-person$90,400
7-person$96,600
8-person$102,850

Underwriting Process

Approval for the assistance hinges on several factors that include, but are not limited to:

  • The property’s county appraised value not to exceed $451,605
  • The household’s financial situation, credit worthiness and existing debt
  • The property’s value, required improvements and existing liens

Resource:

Housing Rehabilitation Program