Your Trusted Partner for Home Improvement Financing
At A&B Sunrooms and Remodel, we are dedicated to helping homeowners achieve their home improvement and remodeling goals. We offer a range of flexible financing options, including Signature Loans, Home Equity Lines of Credit (HELOC), Refinancing, and Construction Loans, to make your sunroom or renovation project affordable.
As a USDA Home Loan Specialist, we are proud to offer assistance with Single Family Housing Repair Loans and Grants. Our team of home loan experts is here to guide you every step of the way, making it easier to secure the USDA loan or grant you need. Below, we’ve answered some of the most common questions about the program.
What Does the Program Do?
Also known as the Section 504 Home Repair Program, this initiative provides loans to very low-income homeowners for home repairs, improvements, or modernization. Additionally, it offers grants to very low-income elderly homeowners to remove health and safety hazards, ensuring safer and more comfortable living spaces.
​
Who May Apply for This Program?
To qualify, you must:
-
Homeownership: You must be the homeowner and occupy the property as your primary residence.
-
Credit Access: You must be unable to obtain affordable credit from other services.
-
Income Requirement: Your family income must be below 50% of the area median income.
-
Age and Repayment Condition (Grants): For grants, applicants must be age 62 or older and unable to repay a home repair loan.
Who Qualifies and Eligible Areas
Applicants can check their address online to determine if their home is located in an eligible area. This program focuses on supporting rural homeowners in need of essential home repairs.
​
How Can Funds Be Used?
-
Loans: Can be used to repair, improve, or modernize homes, as well as to remove health and safety hazards.
-
Grants: Must be used exclusively to eliminate health and safety hazards.
Loan and Grant Limits
-
Maximum loan: $20,000
-
Maximum grant: $7,500
-
Combined assistance: Up to $27,500
​
What Are the Terms of the Loan or Grant?
-
Loan Repayment: The loan can be repaid over a period of twenty years, offering long-term affordability.
-
Interest Rate: The loan has a fixed interest rate of 1%, ensuring predictable payments.
-
Title Service Requirement: Full title services are mandatory for loans of $7,500 or more.
-
Grant Limit: Grants have a lifetime limit of $7,500 to support homebuyers and property owners.
-
Repayment Terms for Grants: Grants must be repaid if the property is sold within 3 years of receiving the grant.
-
Loan and Grant Combination: If applicants can repay part, but not all, of the costs, they may be offered a loan and grant combination to make funding more accessible.
Application Timeline and Deadlines for USDA Home Loans
Year-Round Availability: USDA home repair loans and grants are available throughout the year, as long as funding is available. Applications are processed on a first-come, first-served basis, ensuring fair consideration for all eligible applicants.
Approval Times: The timeline for approval may vary depending on funding availability in your area. For guidance on your application and to explore USDA home loans for low-income homeowners or rural home improvement projects, contact a USDA Home Loan Specialist today.
Who Can Help You Get Started?
A&B Sunrooms and Remodel is an authorized USDA Home Loan Specialist. Contact us to discuss your options and begin the application process.
​
Governing Regulations
This program is governed by:
-
The Housing Act of 1949 as amended, 7 CFR Part 3550
-
HB-1-3550 - Direct Single Family Housing Loans and Grants Field Office Handbook
​
Why Does USDA Rural Development Offer This Program?
The goal is to help homeowners stay in their homes, maintain their property, and build long-term savings. Strong homeownership contributes to thriving communities and supports local businesses and economies.
​
Take the Next Step
Ready to finance your home improvement project? Call 570-824-1960 or email info@a-bsunroom.com, to discuss your financing options with an expert.
​
Important Note
Program details and citations may change. Always consult the program instructions listed under “What law governs this program?” and contact your local USDA office for assistance. For more information, resources, and forms, visit www.rd.usda.gov. For a printable version of this fact sheet, click here.