Home Repair Program

502 Direct Program

Provides financing to purchase a home or repair a home already owned. Loans are made through the Rural Development field offices. Loans are serviced by Rural Development Central Servicing Center located in St. Louis. This program is available to low and very low families and individuals. Interest rates are fixed for the life of the loan. Depending on income, qualified buyers may have their payments reduced through payment assistance. (Field Office Map)

504 Loan Program

Provides financing to make repairs to homes owned by very low income families and individuals to remove safety hazards, repair and improve existing dwellings. Loans are amortized for up to 20 years and carry a fixed 1% interest rate. Outstanding loan amounts may not exceed $20,000. (Field Office Map)

504 Grant Program

This program is for very low income families, and individuals, who own their own home, are 62+ years of age, and cannot afford repayment of a loan. Grant funds can be used to remove health and safety hazards or to provide handicap accessibility in the home. Lifetime grant assistance may not exceed $7,500. (Field Office Map)