USDA Rural Development - Greeneville - Home Repair Loans & Grants - Rural ONLY

AKA:

Section 504 Home Repair Program

Description:

SINGLE FAMILY HOUSING REPAIR LOANS & GRANTS (Pilot):

ELIGIBLE AREA:
Generally, rural areas with a population of less than 35,000 are eligible. Major cities are not eligible.

PURPOSE OF FUNDS:
LOANS may be used to repair, improve or modernize homes or to remove health and safety hazards.
GRANTS must be used to remove health and safety hazards.

AMOUNTS AVAILABLE:
Maximum loan is $40,000 (pilot program).
Maximum grant is $10,000 (pilot program).
Loans and grants can be combined for up to $50,000 in assistance.

TERMS:
LOANS can be repaid over 20 years.
LOAN interest rate is fixed at 1%.
Full title service is required for LOANS of $25,000 or more.
GRANTS have a lifetime limit of $10,000 (pilot program).
GRANTS must be repaid if the property is sold in less than 3 years.
* If applicants can repay part, but not all of the costs, applicants may be offered a loan and grant combination. *

APPLICATIONS:
Applications are available year round as long as funding is available and are processed in the order they are received.

NOTICE: If homeowner is not eligible, they may be referred to other providers.

Hours:

Call

Intake Process:

Call 1-615-783-1300 to request an application.

Program Fees:

Call

Eligibility:

Must live in a RURAL area.

Must:
1. Be the homeowner & occupy the property.
2. Be unable to obtain affordable credit elsewhere.
3. Have a Family Income below 50 percent of the area median income.

Note: For GRANTS, must be age 62 or older and not be able to repay a repair loan.

Is Shelter?

No

Related Resource

Date of Official Change:

September 12, 2023

Address Listings

Contacts

Phone Numbers

Legal Status:

Government