Loan and grant funds available for home repair projects
Acting Delaware and Maryland Director for Rural Development Kathy Beisner announced that homeowners in rural areas who need repairs to their home but can't afford regular loans may be eligible for a U.S. Department of Agriculture Rural Development loan at only 1 percent interest. Seniors age 62 and older may qualify for free home repairs up to $7,500 through the USDA Rural Development grant program.
"We are looking for lower-income homeowners that need help making a home handicap accessible, or fixing or replacing a roof, installation or repair of a septic system, who may need replacement windows, or other repairs to correct or remove existing health, safety, and sanitary issues," Beisner said. Interested people may apply at any time for this program, but funding may become limited after Thursday, Aug. 31.
To be eligible for the home repair program, applicants must own the home and be located in a small town or rural area. USDA must determine that the household is unable to repay a loan at affordable rates and terms. For more information, contact the Rural Development Delaware/Maryland State Office at 302-857-3595 or 301-797-0500, Ext. 4
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. The agency supports a wide variety of loan, guaranteed loan and grant programs to rural residents in the areas of housing, community facilities, business development, infrastructure and other essential needs. For more information, go to www.rd.usda.gov/de.
