The Get the Lead Out Program is designed to provide low-cost financing to owners of 1-4 family properties to remove hazardous lead paint from their homes and reduce the possibility of lead poisoning in children or for owner occupied properties who are seeking to do preventative lead removal. MassHousing is the administering agency for this program and funding is provided by a state appropriation.
0% Deferred Interest Rates for Owner-Occupied Properties
• No closing costs for 0% Deferred loans!
• Loan is deferred until sale or refinance of the property.
• Flexible underwriting guidelines for owner occupant families of 1-4 family properties in which a child under the age of six resides or owner occupants who are court ordered to de-lead (must be child’s permanent residence).
• Owner-occupants without a child under the age of six can also apply for preventative lead abatement to increase the livability of their property.
0% Interest Rate for Non-Profit Organizations
• Available for nonprofit organizations who rent to income-eligible tenants.
• 5-to-15-year loan terms based on the loan amount and borrower qualifications. All loans are fully amortizing.
3% Interest Rate for Investor-Owners
• Available for investor-owners renting to income eligible tenants.
• 5-to-15-year loan terms based on the loan amount and borrower qualifications. All loans are fully amortizing.
Maximum Loan Limits
Single Family Home – $30,000
2-Family Home – $35,000
3-Family Home – $40,000
4-Family Home – $45,000
Eligible Activities
One hundred percent of the financing available under this program must be used for lead paint abatement activities. Lead remediation that has been started prior to loan closing is ineligible. MassHousing will not reimburse borrowers or contractors for work started before the loan closing.
Loan Application Process
Borrowers may apply for financing through Way Finders by first contacting 413-233-1615. Borrowers must first choose a state licensed lead abatement contractor and apply. Way Finders will assist borrowers in completing a loan package and submitting it to the lender for loan approval.
Lead Paint Abatement Oversight
The actual process of de-leading a property is controlled by state law and regulations. Only state licensed lead paint inspectors may conduct inspections, which will be used as the basis for undertaking lead paint abatement work.
Lead Removal Options
State-licensed lead paint abatement contractors can do high-risk work and may undertake all of the de-leading activity. New regulations allow moderate risk work to be performed by lead safe contractors, who are licensed by the Department of Labor and Workforce Development (DLWD). Homeowners who receive a certificate from the Child Lead Paint Prevention Program (CLPPP) may undertake moderate risk lead abatement and may be eligible to receive reimbursement for materials and expenses. An itemized expense list must be submitted at time of initial loan application. Upon submission of Certificate of Compliance, homeowners may receive materials or expense reimbursements. There are no reimbursements for sweat equity.
Important Resources
Further information is also available from:
• Office of Environmental Affairs Childhood Lead Paint Prevention Program. Comprehensive information on lead and health; finding and removing lead, the MA Lead law, and more.
Questions?
Contact us:
phone: 413-233-1615
email: homelending@wayfinders.org