Rural Housing: Housing Repair Loans and Grants
- Listed: February 19, 2019 12:04 pm
- Expires: 997867 days, 22 hours
Description
Our iOS apps : US Benefits Directory , Food Banks Directory , GSA Auctions , Low Cost Apartments Directory,
Program Description
The Rural Housing Repair Loans and Grants program provides loans and grants to very low-income homeowners to repair, improve, modernize, or to remove health and safety hazards in their rural dwellings. Loans are arranged for up to 20 years at 1 percent interest. Grants may be arranged for recipients who are 62 years of age or older and can be used only to pay for repairs and improvements to remove health and safety hazards. Loan/grant combinations may be arranged for applicants who can repay part of the cost. Very low-income for this program is defined as below 50 percent of the area median income.
Program Requirements
In order to be eligible for the loan program, you must be a homeowner who has very low income, and you must be a U.S. citizen or permanent resident who lives in a rural area. In order to be eligible for the grant program, you must meet the above requirements, and also be aged 62 years or older.
Loan Terms
Loans of up to $20,000 and grants of up to $7,500 are available. Loans are for up to 20 years at 1 percent interest. A real estate mortgage is required for loans of $7,500 or more. Full title services are required for loans of $7,500 or more. Grants may be recaptured if the property is sold in less than three years. Loans and grants can be combined for up to $27,500 in assistance.
Application Process
To apply for a loan or grant online go to http://www.sc.egov.usda.gov, or you may contact your State’s Rural Development field office using this office locator tool: http://offices.sc.egov.usda.gov/locator/app.
Contact Information
For more information about the housing repair loan program, visit:
http://www.rd.usda.gov/programs-services/single-family-housing-repair-loans-grants
More on Rural Development Housing & Community Facilities Programs at:
http://www.rd.usda.gov/programs-services
760 total views, 1 today
Sponsored Links
- Listed by: user2
- Member Since: March 22, 2018
Other items listed by user2
- National School Breakfast and Lunch Program for Pennsylvania
- North Carolina Work First
- New Mexico Medicaid
- National School Breakfast and Lunch Program for Missouri
- Ohio Healthy Start