OVERVIEW: The U.S. Department of Agriculture – Rural Development’s 504 Loan program assists eligible very low-income applicants who are owner/occupants of a modest single family home in a rural area to make repairs to their dwelling. Loan funds are available to improve or modernize a home, or remove health and safety hazards. The maximum loan that an individual applicant may receive is $20,000 (at 1% interest rate) based on the applicant’s repayment ability and the cost to cover eligible repairs. To be eligible for a loan, individuals must:

  • Be within the very-low income limit for the county where the home is located
  • Be the owner of a single family dwelling
  • Be able to repay the loan
  • Be unable to borrow the money from another lending source
  • Have a decent credit history

TIMETABLE: Determined by program fund availability. Please see the program’s homepage (note: people are reporting difficulty accessing this site with Firefox; try using Internet Explorer).

APPLICATION PROCESS: Loans are available through approved lenders. For a complete list the USDA Service Center.

FOR MORE INFORMATION: Please see the program’s homepage (note: people are reporting difficulty accessing this site with Firefox; try using Internet Explorer) or contact an approved lender.

TAGS: home, loan, rural

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