|Home Repair Aid Available|
|Written by Submitted|
|Wednesday, February 27, 2013 9:07 PM|
Applications are currently being accepted from rural residents to repair their homes in rural Ohio. Loan and grant funds have been received and are now available.
Qualified very low-income rural residents can obtain home repair loans of up to $20,000. Loans can be used to remove health or safety hazards as well as to modernize the home. The interest rate is 1 percent with terms up to 20 years. Loans cannot be approved to make repairs to homes in such poor condition that they will continue to be a health or safety hazard even after repairs.
Grant funds can be used by rural residents who are at least 62 years old and cannot show repayment ability for a repair loan. These grant funds are limited and can only be used to remove safety or health hazards, including installation/replacement of septic and water systems, weatherization, accessibility repairs for the disabled and structural repairs. Loan funds can be used for these items as well as general modernization of the home.
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