Rehabilitation Tax Credits

Rehabilitation Tax Credits

Being that its kind of a no-news day, I thought I'd point out some of the great programs the city offers to those who want to live there.

How about no, or low property-tax for 10 years?

Not only does Roanoke offer breaks for those rehabilitating older houses, it offers breaks for those who are converting multiple-family houses (or apartments) back into single family dwellings.

But wait.. theres more:

Mortgage assistance program
(its a pdf)
For a first time homebuyer, the city will give you a 10-year interest free loan. Yes, I said the city.
All you have to do is add a small amount, ($400 under $60k loan, or $600 on over $60k loans) and of course there are earnings limits (although not unreasonable), and you get a home.

There are, as always, rules and regulations - as with any federally funded program. But hell, its nothing really.

And you get a home.

Can't beat that huh? A home, tax breaks, and on top of that - the city will also loan you money for the repair of the home. I'll have to do some more searching, but its on the Roanokegov.com website somewhere.

All in the form of loans with little or no interest.

Hell, can't beat that with a stick - now can ya?