- To Use
- Other Demands
Exactly what performs this scheduled program do? Also called the area 504 Residence fix system, this allows loans to very-low-income property owners to correct, enhance or modernize their domiciles or funds to elderly very-low-income property owners to eliminate safety and health dangers.
Whom may submit an application for the program? To qualify, you need to:
- Function as the home owner and occupy your house
- Struggle to get affordable credit somewhere else
- Have a household earnings below 50 % for the area income i that is median
- For funds, be age 62 or older rather than have the ability to repay a fix loan
What exactly is a qualified area? Candidates may look at the address of the house to find out eligibility.
Exactly exactly How may funds be applied?
- Loans enables you to fix, enhance or modernize domiciles or eliminate safe practices dangers
- Funds must be used to get rid of safety and health dangers
Just How money that is much I have?
- Optimum loan is $20,000
- Optimum grant is $7,500
- Loans and funds can be combined for up to $27,500 in help