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Do I have to pay back the loan I receive from Dutchess County through the Senior Citizen Owner-Occupied Property Rehabilitation Program to repair my house?

April 26, 2017dutchess county loan Owner-Occupied pay program Property rehabilitation Repair senior citizen

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Do I have to pay back the loan I receive from Dutchess County through the Senior Citizen Owner-Occupied Property Rehabilitation Program to repair my house?

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Yes. The loan is a 0% interest loan with a 10- year term; repaid in monthly payments. The deferred payment loan is fully due the first 5 years then decreases by 20% per year for year 6 through 10. For more info contact: (845) 486-3600.