Redwood City government runs the Home Improvement Loan Program which offers low interest property improvement loans to Redwood City homeowners and owners of rental property located in Redwood City. Loans are available on a first-come first-serve basis for replacement of roofs, heaters, windows, insulation, energy efficiency improvements, as well as many other health and safety items.
For homeowners, standard loans of up to $65,000 are available at 2% interest for 15 years. Deferred loans of up to $100,000 are available for 5 to 15 years for those with economic hardship. There are no prepayment penalties. Repayment in full may be required if the property title is transferred or sold. Standard terms for owners of multi-family or rental properties are 10-15 years at 3% interest, with a maximum loan of $20,000 per 2 bedroom unit.