Rural Housing: Housing Repair Loans and Grants

Managing AgencyU.S. Department of Agriculturehttp://www.usda.gov/ 
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.
General 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.
Your Next Steps
The following information will lead you to the next steps to apply for this benefit.
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.
Program Contact Information
For more information about the housing repair loan program, visit:
http://www.rurdev.usda.gov/RHS/sfh/brief_repairloan.htm
If you are 62 years or older, you may qualify for a housing repair grant. For more information about this program, visit:
http://www.rurdev.usda.gov/rhs/sfh/brief_repairgrant.htm

More on Rural Development Housing & Community Facilities Programs at:
http://www.rurdev.usda.gov/rhs/common/program_info.htm#SFH