Rural homeowners and seniors can apply for USDA loans for home repair

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.

Kathy Beisner, acting Delaware and Maryland director for USDA Rural Development, says there is a narrow window of opportunity to receive these funds. “We are looking for lower-income homeowners that need help fixing or replacing a roof, installing insulation, storm windows or other repairs to correct or remove existing health, safety, sanitary and accessibility issues,” Beisner said. Interested persons may apply at any time for this program, but funding may become limited after Thursday, Jan. 31.

To be eligible to participate in the home repair program, applicants must own the home and be located in a small town or rural area with a population of 10,000 people or less. USDA must determine that the household is unable to repay a loan at regular rates and terms.

For more information, call 302-857-3595.

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. More information on rural programs is available at www.rurdev.usda.gov/de.