Single-Family Housing Repair Loans & Grants
Single-Family Housing Repair Loans & Grants – USDA Rural Development US Department of Agriculture
- What does this program do?
- Also known as the Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve, or modernize their homes or provides grants to elderly very-low-income homeowners to
remove health and safety hazards.
- Also known as the Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve, or modernize their homes or provides grants to elderly very-low-income homeowners to
- Who may apply for this program? To qualify, you must:
- Be the homeowner and occupy the house.
- Be unable to obtain affordable credit elsewhere.
- Have a family income below 50 percent of the area’s median income.
- For grants, be age 62 or older and not be able to repay a repair loan.
- What is an eligible area?
- Generally, rural areas with a population of less than 35,000 are eligible. Applicants may check the address of their home to determine eligibility online, using this link:
- What is a rural area?
- Open country and places with a population of 10,000 or less and, under certain conditions, towns and cities between 10,000 and 35,000 population.
- Casper City Limits, Laramie City Limits, and Cheyenne City Limits are ineligible areas.
- https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
- Open country and places with a population of 10,000 or less and, under certain conditions, towns and cities between 10,000 and 35,000 population.
- How may funds be used?
- Loans may be used to repair, improve, or modernize homes or to remove health and safety hazards.
- Grants must be used to remove health and safety hazards.
- How much money can I get?
- The maximum loan is $20,000.
- The maximum grant is $7,500.
- Loans and grants can be combined for up to $27,500 in assistance.
- What are the terms of the loan or grant?
- Loans can be repaid over 20 years.
- The loan interest rate is fixed at 1%.
- Full title service is required for loans of $7,500 or more.
- Grants have a lifetime limit of $7,500.
- Grants must be repaid if the property is sold in less than 3 years.
- If applicants can repay part, but not all of the costs, applicants may be offered a loan and grant combination.
- Loans can be repaid over 20 years.
- Is there a deadline to apply?
- Applications are available year-round and as long as funding is available.
- Applications are processed in the order they are received.
- How long does application processing take?
- Approval times depend on funding availability in your area.
- Talk to a USDA home loan specialist in your area for help with the application.
- How do I get started?
- Contact a USDA home loan specialist in your area.
- What governs this program?
- The Housing Act of 1949 as amended, 7 CFR, Part 3550.
- HB-1-3550 – Direct Single-Family Housing Loans and Grants Field Office Handbook.
- For more information:
- Wyoming RD housing contact information:
- Phone: (307) 233-6799
- Email: GRHWest-WY@usda.gov
- Section 504 Home Repair Program:
- Section 502 Direct Loan Program:
- Section 502 Guaranteed Loan Program:
- Wyoming RD housing contact information:
See also: