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Get a loan or grant to make housing repairs
United States Department of Agriculture (USDA) Rural Development - New Mexico
Information Status
USDA Rural Development's Single Family Housing Repair Loans and Grants program (also known as the Section 504 Home Repair program) provides loans to eligible homeowners to repair, improve, or modernize their homes. The program also provides grants to eligible elderly homeowners to remove health and safety hazards. The maximum loan amount is $40,000 and the maximum grant amount is $10,000. Loans and grants can also be combined for up to $50,000 in assistance.
Schedule
Eligibility Requirements
Must be the homeowner and occupy the house; be unable to obtain affordable credit elsewhere; have a family income below 50 percent of the area median income; and (for grants), be age 62 or older and unable to repay a repair loan.,
Seniors
ADA accessible
Yes
Citizenship Requirements
No citizenship requirements
Cost Details
Loans can be repaid over 20 years. The interest rate is fixed at 1%.
Cost or fees
Yes
national
United States
states
New Mexico
What to do next
Call 505-761-4950
Please call and ask for the housing program to start the application process.
Click to visit link - https://www.rd.usda.gov/.../nm
Please visit the link for more information, including application instructions.
Locations
This opportunity does not have a location or its location is private. This opportunity can be accessed in Albuquerque, New Mexico.
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