Home Repairs Loans and Grants
Purpose: What is the Program's Goal? To help very-low income homeowners remove health and/or safety hazards and repair their homes.
Program Type: How does it work? USDA Rural Development makes loans or grants to homeowners.
Eligible Applicants: Who can apply? Very-low income families and/or individuals who currently own their home and cannot obtain conventional financing can apply.
Eligible Areas: Unincorporated rural areas in Colorado, cities and towns with populations of 10,000 or less. Certain areas with populations of 10,000 to 20,000 may also be eligible.
Authorized Purposes: What can funds be used for? Loan and grant funds can be used for: winterizing, purchase or repair of heating system, structural repair, insulation, electrical repairs, water/sewage connect fees, and other housing improvements.
Typical Amount of Assistance: Loan assistance to individuals may not exceed $20,000. Grants are only available to applicants 62 years or older with limited income. Maximum lifetime grant amount is $7500.
Rates & Terms (rates subject to change): 1%, up to 20 years for loans.
Key to Success: Applicant must have limited resources and be unable to get credit elsewhere.
When to Apply: Year-round. Government funding is on a fiscal year basis, October to September.
Who to Contact: Program is administered through Local Rural Development Offices. Locate your nearest USDA-Rural Development Office.
Last Revised 04/10/2009 - Contact the webmaster