Home Enhancement Loan Program (HELP II)

The Cypress Redevelopment Agency Home Enhancement Loan Program (HELP II) is a home improvement assistance program serving low and moderate income homeowners in Cypress. The goals of the program are as follows: 1) improve the quality of life for homeowners in Cypress; 2) preserve the quality of neighborhoods; 3) promote home ownership pride and, 4) preserve and enhance property values.

Eligibility Requirements

Eligible home improvements are to be prioritized in the following order Health, Safety, and General Welfare correction items; 2) improvements to promote "curb appeal" and enhance community property values.

Home must be a single-family, detached residence, located within the limits of the City of Cypress. Rental property and mobile homes are not eligible.

Homeowner must be the legal owner and occupy the property as a principal residence.

Homeowner household income must be below 120% of the Orange County Median income, adjusted for household size.

Homeowner’s cannot have liquid assets in excess of $50,000.

Homeowner’s total debt cannot exceed 100% of the home’s value appraised at the time of application. Total debt is defined as the existing debt (first mortgage, credit cards, personal loans, etc.) plus the requested loan amount.

Available Assistance

The Cypress Redevelopment Agency is offering up to $20,000 in the form of a 15 year, deferred loan secured by a subordinated second trust deed to moderate and lower income homeowners. Repayment is due in one lump payment upon sale, transfer of title, certain refinances, or end of 15 years, whichever comes first. Lower income homeowners may qualify for up to $10,000 in the form of a 10 year , forgivable loan wherein the principal is annually reduced by 10% and completely forgiven by the tenth year.

Houshold Income

Income	1 Person HH*	2 Person HH	3 Person HH	4 Person HH	5 Person HH	6 Person HH	7 Person HH	8 Person HH
Lower	$52,100	$59,500	$66,950	$74,400	$80,350	$86,300	$92,250	$98,200
Moderate	$72,300	$82,650	$92,950	$103,300	$111,550	$119,850	$128,100	$136,350

*HH = Household income based on currently effective median income of Orange County, as set forth in 25 Cal. Code Regs. Section 6932, operative as of April, 2009.

To Get Started...
Fill out an online Preliminary Home Enhancement Loan Application
Or...
Please contact the Cypress Redevelopment Agency to receive a Preliminary Application Form at (714) 229-6720.