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Section 504 Home Repair Program – This program provides loans and grants to low-income and elderly homeowners, respectively, to help cover the cost of repairing or modernizing their single ...
Maximum loans are $40,000 and maximum grants are $10,000, which can be used for improvements or renovations that make your home safer, more accessible or remove health and safety hazards ...
The USDA Single Family Housing Repair Loans and Grants program assists homeowners aged 62 and older. The program exists to help promote “safe, decent housing for older adults in rural areas.”
The Southside Home Ownership Program oversaw the renovation of 14 houses in the Southern Orchards area. The renovated homes were vacant and sold as owned homes. Eligible buyers had an income below 80% of the median area income. Grants were used to subsidize the homes and provide down payment assistance. [19]
Section 504 loans and grants are a USDA rural housing repair program authorized under Section 504 of the Housing Act of 1949. Under current regulations, rural homeowners with incomes of 50% or less of the area median may qualify for the Rural Housing Service (RHS) direct loans to repair their homes. Loans are limited to $20,000 and have a 20 ...
According to the Road Home website, [1] as of December 2017, the program had disbursed a total of $9.022 billion in awards to 130,052 individual homeowners in the area, with grants averaging $69,379 each. These are cash grants, not low interest loans, and are received income tax free.
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