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
Utilizing the USDA Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.
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
What is an eligible rural area?
Utilizing the USDA Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.
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