USDA Home Repair Program

🔥Funding Alert🔥

USDA Rural Development

U.S. Department of Agriculture

Single Family Housing Repair Loans & Grants - NOW OPEN 💫

What does this program do?

Also known as the Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards.

Who may apply for this program?

To qualify, you must:

📍Be the homeowner and occupy the house

📍Be unable to obtain affordable credit elsewhere

📍Have a household income that does not exceed the very low limit by county

For grants, be age 62 or older

How may funds be used?

✨Loans may be used to repair, improve or modernize homes or remove health and safety hazards.

✨Grants must be used to remove health and safety hazards

How much money can I get?

💲Maximum loan is $40,000

💲Maximum grant is $10,000

💲Loans and grants can be combined for up to $50,000 in assistance

What are the terms of the loan or grant?

✅Loans are termed for 20 years

✅Loan interest rate is fixed at 1%

✅Full title service is required if the total outstanding balance on Section 504 loans is greater than $25,000

✅Grants have a lifetime limit of $10,000

✅Grants must be repaid if the property is sold in less than 3 years.

Is there a deadline to apply?

Applications for this program are accepted through your local RD office year round.

What governs this program?

The Housing Act of 1949 as amended, 7 CFR Part 3550

HB-1-3550 - Direct Single Family Housing Loans and Grants Field Office Handbook

To get started, contact GemX Grant Consulting to get more details and assistance with your application.