Low-Income Housing Repair Loans and Grants
Page 2

The United States Office of Rural Development is set to administer approximately $20,000 for loan applicants and $7,500 for grant applicants.

The loans awarded under this program bear an interest rate of one percent and can be repaid for over a period of up to 20 years.

In order to avail of the Low-Income Housing Repair Loans and Grants, qualified homeowners can visit the nearest Rural Development field office that is serving the county where their residential property is located.

Interested applicants must also bear in mind that the program is available only in the rural areas(having a population that does not exceed 10,000) found in the States, the Commonwealth of Puerto Rico, the US Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana's and the Trust Territories of the Pacific Islands.

The eligible applicants of a loan are those people who own and occupy a home in a qualified rural area, and those who can demonstrate a strong ability of repaying the loan.

On the other hand, grant applicants must be those homeowners who are 62 years old and above and do not anymore demonstrate the ability of repaying the funds that have been awarded to them.

The Department of Agriculture, the primary agency that is funding the Low-Income Housing Repair Loans and Grants program, is the country's leading agency that is mainly responsible for extensive anti-hunger and safety and conservation efforts.

Low-Income Housing Repair Loans and Grants
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com. He also maintains Websites providing resources on grants for non profits and the philanthropic sector.

Additional Resources

category - Home Improvement Grants

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

Rehabilitation Mortgage Insurance Program
The Rehabilitation Mortgage Insurance Program intends to financially assist families as they repair or improve, purchase and improve, or refinance and improve their current residential properties that have been existent for more than a year.

---

Lead-Based Paint Hazard Control Grant Program
The Department of Housing and Urban Development has recently established the Lead-Based Paint Hazard Control Grant Program wherein they intend to provide assistance to states, local government units, Native American Tribes, cities, and countries in their complex attempt of determining and controlling lead-based paint hazards in eligible privately-owned rental or owner-occupied dwellings.

---

Low-Income Housing Repair Loans and Grants
The United States Office of Rural Development has been running the Low-Income Housing Repair Loans and Grants program wherein they intend to assist very low-income income homeowners in rural areas in the difficult and costly process of putting their homes up for repair.

---