Section 504 Home Repair Loans and Grants Loans of up to $20,000 made by RHS to make repairs to homes of low-income rural residents. The interest rate on the loan is 1% and the term of the loan, which may be up two 20 years, varies depending on the borrowers ability to repay. Grants of up to $ 7,500 are available for the same purposes to elderly (62 years or older) households if they are unable to afford to repay a loan. Statute: 42 U.S.C §1474 Regulations:
§3550.4 Reviews and Appeals |
