Tracy L. Jordan, Charleston Office Area Specialist, announces funding remains in Rural Development Section 504 Home Repair Loan and Grant Program. The Charleston office serves Mississippi, New Madrid, Scott, Cape Girardeau and Bollinger Counties. Grants and 1% loans are available to qualifying applicants.
Through the 504 Home Repair Loan and Grant Program, Rural Development is able to assist individuals that own their homes make essential repairs. Essential repairs are those necessary to make a home safe and sanitary by removing health and safety hazards. Repairs completed under the program include roof, siding, window and door replacement, electrical repairs, furnace or air conditioning replacement, and other repairs needed to keep the home livable.
To qualify for the program applicants must own and occupy the home and have an income within Rural Development guidelines. Homeowners must be age 62 or older to qualify for a grant. One percent loans are repaid on a 10-20 year term and require monthly payments. Grant funding is limited and many times repairs will be funded with a combination of a loan and grant. There is no cost to apply for funds. Repairs will be completed by a contractor of the applicant's choosing.
Further information on this program or other Rural Development programs is available by visiting USDA Rural Development's web site at http://www.rurdev.usda.gov/mo. To ask about the 504 Home Repair Program, contact Tracy L. Jordan, tracy.jordan@mo.usda.gov, at the Charleston Rural Development office, 831 S Hwy 105, Charleston, MO, 63834, (573) 649-9947 Extension 4.