Single Family Housing Repair Loans & Grants in Ohio

Single Family Housing Repair Loans & Grants in Ohio is sponsored by USDA Rural Development. Provides loans and grants to very-low-income homeowners in Ohio to repair, improve, or modernize their homes.

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Single Family Housing Repair Loans & Grants * Community Facilities Programs * Multifamily Housing Programs * Single Family Housing Programs * Telecommunications Programs * Water & Environmental Programs * Program Support Services * General Terms and Conditions * General Terms and Conditions - Legacy * For Water & Environmental Engineers * Rural Development Disaster Assistance # Single Family Housing Repair Loans & Grants Program Application Period: Applications are accepted for processing from individuals on an ongoing basis from October 1- September 30.

Use current drop down for state contacts shown above. For state specific information: **What does this program do? ** Also known as the Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards.

**Who may apply for this program? ** * Be the homeowner and occupy the house * Be unable to obtain affordable credit elsewhere * Have a household income that does not exceed the very low limit by county * For grants, be age 62 or older **What is an eligible rural area? ** Utilizing the USDA Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.

**How may funds be used? ** * Loans may be used to repair, improve or modernize homes or remove health and safety hazards * Grants must be used to remove health and safety hazards **How much money can I get?

** * Maximum loan is $40,000 * Maximum grant is $10,000 * Maximum grant if repairing a home damaged in a presidentially declared disaster area is $15,000 * Loans and grants can be combined for up to $50,000 in assistance or $55,000 in presidentially declared disaster areas. **What are the terms of the loan or grant?

** * Loans are termed for 20 years * Loan interest rate is fixed at 1% * Full title service is required if the total outstanding balance on Section 504 loans is greater than $25,000 * Grants have a lifetime limit of $10,000, except in presidentially declared disaster areas in which they have a $15,000 lifetime limit. * Grants must be repaid if the property is sold in less than 3 years **Is there a deadline to apply?

** * Applications for this program are accepted through your local RD office year round **How long does an application take? ** Approval times depend on funding availability in your area. Talk to a USDA home loan specialist in your area for help with the application **Who can answer questions and how do I get started?

** Contact a USDA home loan specialist in your area **What governs this program? ** * 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 do this? ** Helping people stay in their own home and keep it in good repair helps families and their communities.

Homeownership helps families and individuals build savings over time. It strengthens communities and helps many kinds of businesses that support the local economy. **NOTE:**Because citations and other information may be subject to change, please always consult the program instructions listed in the section above titled "What Governs this Program?"

Applicants may also contact your local office for assistance. NOTE: Please select your state using the "Select your location" menu above. By doing so, any state specific forms and resources will be shown above this note.

Prior to applying, potential applicants are encouraged (but are not required) to go through an informal prequalification process to determine if the repair program may be a good fit for them.

To start, potential applicants can contact their local Rural Development office and provide the following documentation: * Form RD 3550-35,Section 504 Home Repair Loan and Grant Program Intake Form &Form RD 3550-1, Authorization to Release Information(Spanish versions of these forms are not available) Very-low income homeowners in rural areas interested in applying for the repair program (preferably after going through the prequalification process as described above) can contact their local Rural Development office and provide the following documentation: * Form RD 410-4, Uniform Residential Loan Application * Form RD 410-4, Solicitud de Préstamo Residencial Único * Form RD 3550-1, Authorization to Release Information (Spanish version not available) * Form RD 3550-4, Employment and Asset Certification * Form RD 3550-4, Certificación de Empleo y Patrimonio Certificación de Empleo * All application items listed in Attachment 12-E Checklist (Spanish version not available) * Homeowners Information Guide - English version * Homeowners Information Guide - Spanish version **Rural Development Staff and Application Packager Resources:** * The 504 Automated Worksheet is a tool designed to identify what type of assistance a homeowner may receive; however, is not a final eligibility determination.

The tool can be used to package 504 loans and grants. * 504 Automated Worksheet Tutorial - A brief overview of the functions of, and processes for completing the 504 Automated Worksheet. * Repair packagers are not subject to the certified packaging process for purchase loans.

Information regarding the 504 packaging process can be found in HB-1-3550, Chapter 3, Attachment 3-A. * Repair packagers must sign a Memorandum of Understanding (MOU) with the State Office. * Allowable packaging fees to any public, tribe or private nonprofit organizations may be included in repair loans and grants.

* Packagers are encouraged to visit the Direct Loan Application Packagers page for information and resources specific to packaging Section 502 Home Purchase Program. * Eligibility for repair assistance considers the applicant's age, household income, and Total Debt (TD) ratio. To qualify for a grant, the applicant must be 62 or older.

Individual states may have particular requirements based on state and local regulations. Please contact the state office in the state where your project is located. There are no other additional requirements at the national level.

If there are additional state-specific requirements they will be listed above. Please select your state in the dropdown menu above to find your local contact for this program. * Report Fraud on USDA Contracts * Architectural Barriers Act * USDA Equal Employment Opportunity Policy Statement * Non-Discrimination Statement Rural Development U.S. Department of Agriculture