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Rationale for Little Canada Loan Products <br />Key housing needs <br />•Refinancing and rehabilitation to stabilize existing homes <br />•Major repairs and home improvements to address health and safety issues <br />•Upgrades to older, deteriorating, and energy-inefficient units <br />Financial barriers for residents <br />•Many residents lack upfront capital to make critical repairs or improvements <br />•Low incomes limit the ability to take on new debt, even at favorable terms <br />Limited collateral value <br />•Older manufactured homes often have little or no collateral value <br />Advantages of grants and forgivable assistance <br />•Better aligned with resident financial realities