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USDA Funding Available for Home Repairs for Low Income Home Owners


Help low and very low-income applicants by marketing the Section 502 Direct Loan Program and low-income and moderate income applicants by marketing the 502 Guaranteed Program.


  • 100% financing
  • No Down payment requirement
  • Fixed interest rate
  • Seller contributions limited 6%

Note:  Guaranteed loan has associated fees;  1% guarantee fee (can be financed into total loan amount); .35% lender fee.


The Section 504 loan/grant program is to help very low-income owner occupants to repair their homes. Loan funds  are available for repairs to improve or modernize a home, make it safer or more sanitary, or remove health and safety hazards.  Grant funds are available to remove health or safety hazards, or remodel dwellings to make them accessible to a household member with a disability.

  • Applicants living in extreme poverty could be eligible for 100% grant assistance up to the allowable $7,500 maximum lifetime limit for eligible project costs
  • Affordable loans at a fixed 1% interest rate. A minimum $1,000 loan, only $4.60 per month or 15 cents per day
  • Qualified homeowners may receive a maximum loan of $20,000 at a fixed 1% interest rate. Loans and grants may be combined for up to $27,500 in total assistance
  • Very-low-income homeowners with a repayment ratio between 30% to 46% may be eligible for a 50% loan and 50% grant
  • Grant recipients must be age 62 or older

Maximum loan amount is $20,000.  Maximum grant amount $7,500 lifetime limit.

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