Many homeowners plan to rehab homes for health and safety upgrades as well as for aesthetic purposes. Unfortunately, not having the funds prevents them from completing these repairs that are sometimes much needed.
Fortunately, the government is addressing this issue by creating a program. The initiative, called Home Repair Grants, Loans and Programs, aim to help low-income homeowners, senior citizens with a fixed income, or those struggling with financial difficulties who may need financial assistance to make needed home repairs.
The program is sponsored by the U.S. Department of Agriculture (USDA) and governed by The Housing Act of 1949 and Direct Single Family Housing Loans and Grants Field Office Handbook .
Homeowners might be able to find a solution for home repair and renovation needs with any of these following programs:
The maximum loanable amount is $20,000
Maximum grant amount is available for up to $7,500.
For more information on the Government Loans and Grants for Rehab Homes, visit the official website of the U.S. Department of Agriculture (USDA). If you have questions on whether or not you should rehab your home or sell it for cash, please call us at 216-282-4332. We have helped many folks who may not have the funds, time or resources for a house rehab but still want to sell.