Types of Grants, Loans & Income Eligibility

Grants / Forgivable Loans


Limited grant funds are available to income qualified households for exterior improvements only. Grants may not exceed $10,000. All grant funds will be provided in the form of a loan which is forgiven in equal parts over 10 year period. The single-family dwelling must remain the primary residence of the recipient for the entire period.

0% Interest Loans


Regular monthly installment loans, up to $40,000 with payments at zero percent interest, require applicants to be the owner and occupant of a single family dwelling with a household income that does not exceed the below requirements.


2018 Income Limits


Household Size Maximum Income*
  • 1 person $39,700
  • 2 persons $45,400
  • 3 persons $51,050
  • 4 persons $56,700
  • 5 persons $61,250
  • 6 persons $65,800
  • 7 persons $70,350
  • 8 persons $74,850
* 2018 HUD determined M.F.I. effective April 1, 2018



Low Interest / Deferred Loans


The program also accommodates the many Royal Oak homeowners living on limited incomes for whom loans with a low interest rate are still out of reach. Homeowners may be eligible for a deferred loan not to exceed $40,000. These loans require no monthly payment for a time determined by the city's Loan Committee.

Three percent payment commences upon date determined by the city's Loan Committee on an individual basis which is normally 5 - 10 years. Loan are due automatically when the property is sold or transferred prior to the determined date. Applicants for deferred loans must have a household income that does not exceed the below requirements.

2018 Income Limits


Household Size Maximum Income*

  • 1 person $24,850
  • 2 persons $28,400
  • 3 persons $31,950
  • 4 persons $35,450
  • 5 persons $38,300
  • 6 persons $41,150
  • 7 persons $44,000
  • 8 persons $46,800