USDA grants encourage home maintenance and repair in rural areas

7/22/2011

While many USDA loans are geared toward first time home buyers, applications are currently being accepted for loans designed to fund maintenance and repair projects for low income, rural homeowners.

Under the USDA lending program, funds are provided to local government and non-government organizations that subsequently distribute money based on need. Common home improvement projects covered include handicap accessible remodels, window replacement, plumbing and roof repair.

Known as the Housing Preservation Grant, the USDA program may allocate up to $9.8 million in total. Applications must be submitted to approved and participating local agencies.

"These funds help limited-income rural homeowners improve their living conditions," said Agriculture Secretary Tom Vilsack. "The costs associated with maintaining a home are a challenge for many rural homeowners, and the funding we are announcing will be used by awardees to help low and very low-income residents in rural areas maintain and repair their homes."

Rural development has been a recent focus of USDA lending, and includes programs to purchase homes in established rural locales with no down payment. Housing Preservation Grants seek to continue to improve quality of life in rural areas by encouraging homeowners to maintain their homes, thereby increasing their overall value.