Housing Preservation Loan Program

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The Housing Preservation Loan Program (HPP) focuses on preserving homes within the City of West Covina. The City Manager's Office through the Community and Economic Development (CED) division, makes loans available to moderate-income homeowners that are in need of exterior improvements. In addition, the CED works with code enforcement in providing loans to homeowners that have been identified as requiring exterior improvements to their home. The HPP is once again made available thanks to the City of West Covina City Council, who approved to reinstate the program.

For more information about the program please read the following information:

Application/Info Flyer
Objective
Program Guidelines
Basic Requirements
Repayment Provisions
Financing Provisions
Restrictions
Program Phases
Additional Housing Resources

Application/Info Flyer

Applications are now being accepted to participate in the Housing Preservation Loan Program.

Application (Please Print 2-Sided)
Info Flyer

If you have any questions concerning the application please contact Gerardo Rojas at (626) 939-8417 or email him at grojas@westcovina.org.

Objective

Over the past several years, a large percentage of the housing stock within the City has matured and is now in need of a face-lift. This program was adopted as part of the budget to protect, preserve, and improve the single-family housing stock in West Covina.

Program Guidelines

The Program will provide eligible, moderate-income West Covina homeowners a low-interest home improvement loan of up to $25,000. To be eligible, a single-family home must be the primary residence and the homeowner must have resided in the home for a minimum of twelve (12) months.

Basic Requirements

Must be a homeowner residing within the City of West Covina.
Maximum loan of $25,000 plus a $50 processing fee.
Homeowners are required to execute promissory note secured by a deed of trust.
Income must meet qualifying income guidelines (see below).
A lead-based property inspection may be required.

2024 Maximum Income Limits

Family Size	Annual Income	Family Size	Annual Income
1	$77,700	5	$119,850
2	$88,800	6	$128,750
3	$99,900	7	$137,600
4	$110,950	8	$146,500

(Based on current effective median income of Los Angeles County. Revised annually as set forth in 25 Cal. Code Regs. Section 6932). As of 2024.

Repayment Provisions

When the property is sold or title is transferred (includes transfer within family).
Upon the death of the Title holder(s) of the property (the homeowner(s)).
Upon the homeowner refinancing their primary loan(s) or take-out financing.
If the homeowner is in default of the loan agreement.
When the property fails to be maintained according to City building codes.
When the homeowner no longer resides in the house.

Financing Provisions

Maximum Loan Amount: $25,000
Interest Rate: 0%
Fees to Borrower: $50 processing fee.
$340 Lead-based paint inspection (may be required/may be financed into loan)
Monthly loan payments will begin after year 5.
Only licensed contractors can be used. All payments will be made upon completion of work.