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RDA Residential Loan Program Homepage

RDA Loan Application

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Printable version

RDA LogoRDA Residential Loan Program

SAFE SIDEWALKS PROPERTY
IMPROVEMENT PROGRAM

 

RDA Housing Lending Parameters and Criteria

Safe Sidewalks Property Improvement Program "SS"
For principal purpose of the Repair, Replacement, and Improvement of Residential Sidewalks including labor, materials, and associated expenses with a focus and emphasis on city right-of-way to mitigate safety hazards.

Very Low Income Borrower

Low Income Borrower

Median Income Borrower

Sidewalk Repair, Replacement, and Improvement Expenses

$5,000

Household
Income

n/a

Loan-to-Value

n/a

Repayment Requirements
All Borrowers

Due in full upon the sale, transfer of ownership, or change of use of the property.

Repayment Requirements
Median Income Borrowers

n/a

Monthly Payments with Automatic Payment Transfer

Interest Rate

No Interest
0% APR

5.00 % APR

Secured by

1st, 2nd, or 3rd mortgage

Fees
and Closing Costs

All actual 3rd party costs incurred by the RDA related to loan processing, document preparation, loan closing and recording will be charged to the borrower(s) and will be financed as part of the assistance proceeds.

 

 

RDA Housing Program
Household Income Guidelines*

Family Size
(# of Persons in Household)
1
2
3
4
5
6
7
8
                 
Median
(100% of Median)
$50,000
$57,100
$64,200
$71,300
$77,100
$82,800
$88,500
$94,200
                 
Low
(80% of Median)
$39,950
$45,650
$51,350
$57,050
$61,650
$66,200
$70,750
$75,350
                 
Very Low
(50% of Median)
$25,000
$28,550
$32,100
$35,650
$38,550
$41,400
$44,250
$47,100
(70% of Base)
(80% of Base)
(90% of Base)
BASE
(108% of Base)
(116% of Base)
(124% of Base)
(132% of Base)

*Source: HUD FY 2014 guidelines Ogden-Clearfield, UT MSA.
Note: For each household member in excess of eight, 8% of the four-person base should be added to the eight-person income limit, e.g nine-person-family is 140% of base (132% + 8%)

 

 

Monthly Payments Per $10,000 Borrowed

APR
10 Years
20 Years
2.00%
$92.00
$50.00
2.25%
$93.00
$52.00
2.50%
$94.00
$53.00
2.75%
$95.00
$54.00
     
3.00%
$97.00
$55.00
3.25%
$98.00
$57.00
3.50%
$99.00
$58.00
3.75%
$100.00
$59.00
     
4.00%
$101.00
$61.00
4.25%
$102.00
$62.00
4.50%
$104.00
$63.00
4.75%
$105.00
$65.00
     
5.00%
$106.00
$66.00
5.25%
$107.00
$67.00
5.50%
$109.00
$69.00
5.75%
$110.00
$70.00
     
6.00%
$111.00
$72.00
6.25%
$112.00
$73.00
6.50%
$114.00
$75.00
6.75%
$115.00
$76.00
     
7.00%
$116.00
$78.00
7.25%
$117.00
$79.00
7.50%
$119.00
$81.00
7.75%
$120.00
$82.00
     
8.00%
$121.00
$84.00
8.25%
$123.00
$85.00
8.50%
$124.00
$87.00
8.75%
$125.00
$88.00
     
9.00%
$127.00
$90.00
9.25%
$128.00
$92.00
9.50%
$129.00
$93.00
9.75%
$131.00
$95.00
     
10.00%
$132.00
$97.00

 

dIVIDER

 

For additional information, or to confirm your eligibility to apply for a rehabilitation loan, visit or telephone (Monday - Friday 8:00 a.m. - 5:00 p.m.)

In Person:
RDA Housing
Riverdale City
4600 S. Weber River Drive
Riverdale, UT 84405
By Phone:
RDA Housing
801-394-5541

 

Printable version

 

 

Riverdale City - 4600 South Weber River Drive, Riverdale, Utah 84405 - 801-394-5541 - email: info@riverdalecity.com