SPEC Loan Program

Purpose of loan fund

            • To address health, safety and code issues in primary residence
            • HOA special assessments considered on case by case basis

Eligible properties

            • Single family attached/detached & Condos (no manufactured or mobile homes)
            • Property must be located in Summit County

AMI Levels: Income at or below 120% AMI

Lien Position: 2nd only

Loan Amounts:Maximum $15,000

Combined Loan to Value Max is 98%

Processing fee

            • $250 application fee at the time of the application
            • $500 closing fee paid through loan proceeds

Loan term

            • up to 20 years
            • 3% interest rate

Owner must be employed a min of 30 hours/week in Summit County

Contact Vickie at 970-453-3555 or for more information click here

SPEC Loan Application