More on Friends of the Carpenter – Application Deadline March 13

The Friends of the Carpenter, Inc. Housing Rehabilitation Program (a nonprofit corporation based in North Plainfield) has interest free loans available to assist various categories of major home repairs for home owners who meet certain income guidelines.

The application deadline is March 13.

Call (908) 755-2781 for more information and an application.

Loans are provided in amounts exceeding $10,000 with a maximum amount of $20,000. The loans are forgiven at the rate of 10% per year, so that after 10 years the entire loan is forgiven and you have to repay nothing.

The income of all residents of the home are counted to figure maximum income. The income guidelines are as follows. Income figures are based on last year’s 1040 income tax filing.

PERSONS IN HOUSEHOLD – MAXIMUM INCOME
1  – $51,968
2 – $59,392
3 – $66,816
4 – $74,240
5 – $80,179
6 – $86,118
7 – $92,058
8 – $97,997