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Section 504 loans and grants are a USDA rural housing repair program authorized under Section 504 of the Housing Act of 1949. Under current regulations, rural homeowners with incomes of 50% or less of the area median may qualify for the Rural Housing Service (RHS) direct loans to repair their homes. Loans are limited to $20,000 and have a 20 ...
The USDA repair loan program (Section 504 Home Repair) is similar to the direct program in that it caters to low-income individuals. But it’s different in that it provides loans only up to ...
Section 504 Home Repair Program – This program provides loans and grants to low-income and elderly homeowners, respectively, to help cover the cost of repairing or modernizing their single ...
A USDA Home Loan from the USDA loan program, ... Grants are only available to homeowners who are 62 years old or older and cannot repay a Section 504 loan. [7]
This program is adminisgtered by the Community Facilities Program; RHS administers direct loans, loan guarantees and grants. Direct loans are made and serviced by USDA staff; loan guarantees are made to banks or other private lenders, and grants are made directly to a person or organization.
Government-backed mortgages: Some government-backed loans, such as an FHA 203(k) loan, a VA renovation loan or a USDA Section 504 home repair loan, can help with both minor repairs or major ...
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