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: Continuum of Care Homeless Assistance Programs
The CoC Homeless Assistance programs is designed to reduce the incidence of homelessness in established CoC communities, thereby the need to assist homeless individuals and families during the process of quickly transitioning to self-sufficiency and permanent housing.

---

Rural Community Development Initiative
The Rural Community Development Initiative can be awarded to legally qualified private, public, and tribal groups or organizations that have the experience and capability of providing training and technical assistance to nonprofit community-based housing and community development organizations, as well as low income rural communities.

---

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.

---

Direct Housing Natural Disaster Loans and Grants
The primary goal of the Direct Housing Natural Disaster Loans and Grants program is to provide loans or grants to homeowners whose homes are situated in counties that are named by the Federal Emergency Management Agency as being qualified to receive federal assistance under an emergency declaration that is made by the President of the United States.

---