Home Improvement Program

HELPING CAMBRIDGE HOMEOWNERS FOR OVER 40 YEARS
HIP’s mission is to revitalize, stabilize and improve homes owned by income-eligible Cambridge residents by providing affordable financial and technical assistance for these low and moderate income homeowners.

The Home Improvement Program (HIP) has been operated by HRI since 1974. HIP provides financial and technical assistance to income-eligible Cambridge homeowners to repair and renovate their homes so they may maintain their residency, revitalize their homes, and help stabilize their community. To date, the program has renovated more than 500 units for low-and moderate-income homeowners.

 

 

+ What services does the program provide?

HIP services include: performing rehab inspections; estimating costs; establishing a rehab plan; managing and monitoring the rehab; assisting with a loan application for financing; obtaining a rehab loan; counseling on property management and maintenance issues; and working with tenants to assure that their rent is affordable.

+ How does the program work?

HIP staff works with property owners to determine the level of rehab that is needed. Work specifications are written and several contractors will review the proposed work and submit a bid. A financial analysis is performed to insure that the loan is affordable. Loans are approved and a contractor is selected. The loan closes and the rehab begins. The entire rehab process is supervised by HRI to assure it is done properly.

+ What properties are eligible for HRI assistance?

Properties that are owner occupied, house between one and four families, and are at least 50% residential are eligible for HRI assistance. The applicant must also fall within the income limits (see income requirements below) set forth by the Community Development Block grant program, and typically must own his or her house for at least one year.

+ What type of rehab is eligible under the program?

HIP is a moderate rehab program. Priority is given to the following rehab needs: health and safety hazards; weatherization and energy conserving improvements; lead paint hazards; remodeling to accommodate the handicapped; exterior upgrading.

+ How does the program help property owners?

HRI makes the entire rehab process easier by providing both financial and technical assistance to property owners who wish to rehab their property. This assistance will result in improved buildings that will be financially manageable and more attractive. Owners who are concerned that renovating their property might result in unaffordably high rents for their tenants, can now do the rehab and keep their tenants’ rents affordable.

+ How does the program help tenants?

The program’s goal is to assist property owners in renovating apartments while keeping costs affordable. Below-market rehab loan financing allows owners to keep their costs low. Tenants will not only have improved housing conditions but will also be able to afford the rent.

+ How do I apply?

If you believe that you meet the eligibility requirements outlined above, you can either email info@homeownersrehab.org or call the office at (617) 868-4858. You are then briefly prescreened for eligibility. If you qualify and want to apply, you will receive an application along with other documents to complete and return to the office.

 

 

Examples of HIP Rehab projects

 
 

Testimonials

 

HIP E-NEWSLETTER

 

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For more information on eligibility requirements, please contact:

HRI Home Improvement Program
Email: info@homeownersrehab.org
Phone: 617.868.4858