Get yourself a low-interest loan for the rehabilitation task. Preservation Utah’s Revolving Fund Loan Program provides property holders loans that are low-interest restore and rehabilitate significant historical or architectural properties for the state
Our loans provide low monthly obligations centered on a 20-year amortization routine, however the re re re re payment term when it comes to loan is 5 years by having a balloon re re re payment regarding the staying principal and interest due at the conclusion regarding the year that is fifth. The attention rate is fixed at ВЅ regarding the interest that is prime at enough time the loan application is authorized. For instance, if the prime rate of interest is 6%, our rate of interest is fixed at 3%.
What improvements could be made utilising the loan funds?
Loan funds can be utilized for renovation, rehabilitation and fix, and costs that are project-related such as for example engineering solutions, designer’s charges, and licenses.