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Rural Development Repair Loans
Rural Development, formerly Farmers Home Administration (FmHA)
can assist very-low income homeowners with low interest loans to make repairs to improve or modernize a property.
If determined eligible for a loan, the interest rate is very low. A real
Estate mortgage would be required.
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Grants for Repairs
In addition to the loans, Rural Development can also make grants to
elderly persons who lack resources to make
repairs, do not have the ability to repay a loan at the low interest
rate, and who meet the very low
income guidelines. Grant funds may be used only for repairs and
improvements that will remove health and safety hazards. Examples
of common repairs are (but not limited to) installing a new heating
system, repairing roofs, installing screens, new windows, adding
insulation or to repair or remodel dwellings to make them accessible and
useable for household members with disabilities. |