The Rural Housing Repair and Rehabilitation Grants and Loans Program
is directly funding by the US Federal Government. The goal is to
help individuals living in rural areas make improvements or repairs
to their home in order to reduce or remove health and safety
hazards. In addition, repairs may be made to enable accessibility
for a disabled person.
Rural housing grants are often funded through the US Department of
Agriculture, and the Rural Housing Repair grants are no exception.
The US Department of Agriculture paid out over $24 billion toward
agriculture grants and rural development grants in 2004.
There are both grants and loans available under this program.
Housing grants accessed through this program are a maximum amount of
$7500, whereas loans can reach a maximum of $20000. Accessing these
rural housing grants is limited to the very low-income rural
Americans, who are age 62 or older. Very low-incomes are defined as
under 50% of the area's median income range, as determined by the US
Department of Housing and Urban Development.
To qualify for these housing repair grants, an individual must be
the occupant of their dwelling, and be unable to qualify for
affordable credit elsewhere.
The grant funding amount is based on an individual's ability to
repay, and it must be used in conjunction with the Housing Repair
and Rehabilitation Loan. The terms of these loans are up to a
maximum of $20000 for a period of 20 years, at 1% interest. A rural
housing repair grant/loan combination is issued if the homeowner is
able to repay some of the cost. This combination can enable people
to access up to $27500 for housing repairs.
Loans and grants for housing repairs accessed under this program
must effectively meet local codes and standards, including local
sewage disposal and water systems regulations.
The US Department of Agriculture Rural Development Office provides
many housing and other grant programs designed to meet the needs of
rural Americans. An example of one such program is the Rural Rental
Assistance Program that provides low-income rural residents with
funds to help pay their monthly rent.
Learn how the
Able Government Grant Internet Resource Guide
can help you find other housing grant and US government grants
programs.
For investors looking for rehabilitation
loans in CA, you can find more information here about
California rehabilitation loans.
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