Rural Disaster Home Repair Grants.
USDA Rural Development 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.
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 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 year round through your local Rural Development office, www.rd.usda.gov/nc. You may also contact a customer service representative at 1-888-796-0538.
Find more information at www.rd.usda.gov/programs-services/single-family-housing-programs.
