| Rural Home Repair Loan and Grant Program Overview |
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BEFORE Rural Home Repair Grant AFTER |
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Rising City, Nebraska |
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The Purpose Of The Rural Home Repair Loan And Grant Program Is...To provide funds for necessary repairs to owner-occupied homes in rural areas (i.e. roof, windows, plumbing, electrical, heating, etc.). |
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| Eligible Applicants Include...Very low-income owner-occupants. To qualify for a grant, the homeowner must be 62 years of age or older and be unable to repay a loan. Applicants for a loan must have acceptable credit history, adequate repayment ability and be unable to obtain the needed credit from commercial sources. | |
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Terms And Conditions... |
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The loan term can be up to 20 years. |
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The interest rate is 1% for repair loans. |
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A deed of trust is required on loans exceeding $7,500. |
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Grant agreements are required to be signed by all grantees. |
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Grant funds can ONLY be used to remove health and safety hazards. |
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The maximum grant
amount is a lifetime assistance of $7,500. |
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Loan funds can be used for the removal of health and safety hazards or for general updating/remodeling of a home. |
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The maximum loan amount is $20,000 (outstanding). |
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View...The detailed Rural Home Repair Loan and Grant Program Fact Sheet. |
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Locate And Contact...Your nearest USDA Rural Development Office. |
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