Loans, grants available for home repair

Area residents who need help making home repairs should contact the U.S. Department of Agriculture as soon as possible regarding available loans and grants, said Amy Johnson, a rural development specialist for the USDA’s Rural Development office in Oregon.
“It really is a great program for people who otherwise couldn’t afford to make renovations,” Johnson said. “And people who are at risk of losing their home because of a health and safety issue, this can help with that, too.”
The USDA’s Rural Development program for Northwest Illinois offers financial assistance for home repairs in the form of loans and grants. A repair loan must be used to improve or modernize homes, make them safer and more sanitary, or to remove health and safety hazards, states a USDA news release. Eligible repairs include roofing, siding, windows, foundation repairs, kitchen cabinets, septic system, and furnace/air-conditioning.
The maximum loan amount is $20,000, and loans can be made for a term of 20 years at 1 percent interest, the release states. To qualify, an applicant needs to own and occupy the home, have acceptable credit, be able to repay the loan, and meet “very low” income guidelines, the release states. To help illustrate these guidelines, a family of four in Stephenson County can earn up to $29,950 and still qualify, the release states.
The home repair grants are only awarded for projects that address health, safety, or accessibility issues for a home. Unlike the loans, the grants do not have to be repaid. Grants are often made in conjunction with small loans, and there’s a $7,500 lifetime limit on repair grant funds.
A limited number of these grants are available, the release states. Applicants must meet very low income guidelines, be 62 years of age or older, and demonstrate an inability to make loan payments, the release states.
Johnson said homeowners who think they might qualify for a loan or grant should call the USDA office in Oregon. Department officials will ask callers several preliminary questions to get a sense of whether they qualify. Then, an application will be sent to the homeowner if they wish, Johnson said. For disabled residents, USDA officials can also visit the individual’s home to deliver the application and help them with the process, she said.
“It runs all year long every year,” Johnson said of the Rural Development program.
The USDA’s Rural Development office in Oregon serves seven counties in Northwest Illinois, including Stephenson, Jo Daviess, Carroll, Boone, Winnebago, Ogle, and Lee.http://tourism9.com/    http://vkins.com/