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.

Maintenance & repairs

What to do next

Ways to connect

Call 505-761-4950

Please call and ask for the housing program to start the application process.

Visit this link - https://www.rd.usda.gov/.../nm

Please visit the link for more information, including application instructions.

Details

Schedule

Applications are accepted year-round.

ADA Accessible

Yes

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

Eligibility requirements

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

Citizenship Requirements

No citizenship requirements

External Link:https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-repair-loans-grants/nm

Locations

This service does not have a location or its location is private. This program can be accessed in Albuquerque, New Mexico.

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Notes