Housing Loan Program

The Housing Loan Program is designed to improve the housing stock in the City of Beloit and complement other ongoing neighborhood revitalization efforts.  Loans are intended to address specific work needed to bring residential properties into compliance with the City’s Housing and Building Codes.  Rehabilitation work in excess of code requirements can be included, but only if all code related repairs have been addressed first and sufficient equity is available to do the additional work. 

Eligibility: Property must be located in the City of Beloit limits.  Household must meet low or moderate income requirements as outlined below.     


Size of Household


Maximum Income

















Interest Rate: Owner occupied loans are available at interest rates as low as 0% or 3%, deferred payment and/or installment loans. The type of payment will be determined once an application is submitted.  Rental rehabilitation loans are offered at a fixed rate of 3% interest.   No deferred payments are available for rental loans.   Tenants must meet the low to moderate income requirements as outlined by household in the chart.

Loan Amount:  The maximum loan amount for a single family dwelling unit is $20,000.    The loan is secured by a mortgage against the property.

Inspection / Risk Assessment:  If approved, an inspection and lead risk assessment will be conducted of the property.  Detailed specifications are prepared and will be available for bid to three approved qualified general contractors of the applicants’ choosing. 

For more information or to receive an application:  Please contact the Division of Community and Housing Services, 100 State Street or phone 608-364-6695.