The Single Family Housing Repair Loans and Grants program, also known as the Section 504 Home Repair program, offers loans and grants to elderly and very-low-income homeowners. Very low income is below 50 percent of the area median income.
How may I use the funds?
- Use loan funds to repair, improve, or modernize your home, or remove health and safety hazards.
- Use grant funds only to remove health and safety hazards.
How much money can I get?
- Maximum loan is $20,000.
- Maximum grant is $7,500.
- You may be able to combine loan and grants for up to $27,500.
What are the terms of the loan or grant?
- You can repay loans over 20 years.
- The fixed interest rate for the loan is 1%.
- Loans of $7,500 or more require full title service.
- Grants have a lifetime limit of $7,500.
- You must repay grants if you sell the property in less than 3 years.
- You may be able to get a loan and grant combination if you can repay part but not all of the cost.
To learn more, visit one of the program pages below:
General Program Requirements
To qualify for the loan program, you must meet all of the conditions below:
- Be a homeowner who has very low income,
- Be a U.S. citizen or permanent resident, and
- Live in a rural area; check the address on the Property Eligibility page.
To qualify for the grant program, you must meet the following conditions:
- Meet the conditions above,
- Be age 62 or older, and
- Not be able to repay a repair loan.
You must also occupy the home and be unable to get affordable credit elsewhere.
See income limits (PDF, 5 MB) for more details.
To apply for a loan or grant, you may: