Zero-interest loans are available to qualified low- to moderate-income homeowners through the City's Home Improvement Loan Program (HILP). The program provides loans of up to $15,000, and the monthly loan payments can be extended for as long as ten years. The loans can be used for repairs to prevent costly damage and for improvements to increase energy efficiency and to make homes more livable and attractive.
The Nebraska Investment Finance Authority provides the capital for participating local lenders, and the City uses federal Community Development Block Grants to pay the interest on the loans. To qualify, residents must live in and own the home (four-plex or smaller). The home must be at least five years old and within the City limits, and the household must meet income guidelines:
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Since 1989, more than 600 HILP loans have helped Lincoln residents invest about $7 million in their homes. Those interested in HILP can call the City Urban Development Department at 402-441-7864. More information is available at lincoln.ne.gov (keyword: HILP).