Rural Housing: Housing Repair Loans and Grants
Rural Housing: Housing Repair Loans and Grants
Managing Agency:
Program Description
The Rural Housing Repair Loans and Grants program offers loans and grants to very-low-income homeowners. Very low income is below 50 percent of the area median income.
How may funds be used?
- Loans may be used to repair, improve, or modernize your home, 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 $20,000.
- Maximum grant is $7,500.
- Loans and grants can be combined for up to $27,500.
What are the terms of the loan or grant?
- Loans can be repaid over 20 years.
- Loan interest rate is fixed at 1%.
- Full title service is required for loans of $7,500 or more.
- Grants have a lifetime limit of $7,500.
- Grants must be repaid if the property is sold in less than 3 years.
- If you can repay part but not all of the cost, you may be able to get a loan and grant combination.
General Program Requirements
To qualify for the loan program, you must be:
- A homeowner who has very low income,
- A U.S. citizen or permanent resident, and
- Live in a rural area.
To qualify for the grant program, you must:
- Meet the requirements above,
- Be age 62 or older, and
- Not be able to repay a repair loan.
You must also:
- Occupy the house, and
- Be unable to get affordable credit elsewhere.
See income limits (PDF, 5 MB) for more details.
Application Process
To apply for a loan or grant, you may:
Program Contact Information
To learn more, visit one of the program pages below:
Last Updated: 10/26/2016