Single Family 住房 和 修复 Program

What does this program do? 
Also known as the Section 504 首页 修复 program, this program provides loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health 和 safety hazards.

Who may apply for this program?
To qualify, you must:

  • 做房主 和 占据房子
  • Be unable to obtain affordable credit elsewhere
  • 有一个 家庭收入 below 50 percent of the area median income (effective 7/22/2019) 
    • 1 PERSON 2 PERSON 3 PERSON 4 PERSON 5 PERSON 6 PERSON 7 PERSON 8 PERSON

$36,200        $36,200       $36,200       $36,200     $47,800      $47,800      $47,800       $47,800

  • For grants, be age 62 or older 和 not be able to repay a repair loan

How may funds be used?

  • Loans may be used to repair, improve or modernize homes or remove health 和 safety hazards
  • Grants must be used to remove health 和 safety hazards

How much money can I get?

  • Maximum loan is $20,000
  • Maximum grant is $7,500
  • Loans 和 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
  • 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 和 grant combination

Is there a deadline to apply? 

  • 首页 loans are available year round as long as funding is available
  • 首页 loan applications are processed in the order they are received

How long does an application take 和 who can answer questions 和 how do I get started?
Approval times depend on funding availability. 联系 USDA home loan specialist. USDA Willmar Office: Alicia Jones 320-235-5612

Why does USDA Rural Development do this?
Helping people stay in their own home 和 keep it in good repair helps families 和 their communities. 首页ownership helps families 和 individuals build savings over time. It strengthens communities 和 helps many kinds of businesses that support the local economy.