Get the Lead Out Loan Program
- Available to investor-owned and owner-occupied properties that have from 1-4 units.
- The owners is responsible for getting a lead inspection and finding a contractor, although assistance is available to help with the contractors and project oversight.
- Maximum loan limits ranging from $30,000-$45,000 depending on the number of units in the property.
- NewVue Communities will assist you in determining your eligibility and completing a loan package to send over to one of our approved lenders.
Basic Eligibility & Loan Terms:
- All loans are 3%, fully amortizing.
- Loan terms are from 5 to 15 years, based on the loan amount and borrower qualifications.
- Investors must rent to income-eligible tenants.
- 0% deferred interest rate loan – this means you don’t need to pay it until you were to sell or refinance the property
- There are no closing costs
- Must meet the income guideline (see table below)
|City/Town||1-2 person household||3+ person household|
|Ashburnham, Athol, Clinton, Fitchburg, Gardner, Leominster, Lunenburg, Petersham, Phillipston, Royalston, Sterling, Templeton, Westminster, & Winchendon||$95,500||$109,800|
|Ashby, Ayer, Shirley, & Townsend||$107,800||$123,900|
|Harvard & Lancaster||$112,300||$129,100|