Home Improvement Grants - Federal Grant Money to Modernize Your Home

Making repairs to your house can be very expensive for any homeowner. However, there are federal programs offered by the government that can help to defray some of the costs. An excellent place to start is with Section 504 loans and grants program administered through the US Department of Agriculture Office of Rural Development. This program offers grants and loans to people in the low income brackets.

This program was first authorized as part of the Housing Act of 1949. Their primary goal is to remove any health or safety issues in a person's home. The funds can also be used for several types of general home improvement. This can include remodeling project that will make a house handicap accessible, removal of other safety hazards, or just generally modernizing a home to help bring it up to current standing with local zoning laws.These loans are usually used for improving heating, electric or plumbing issues in a property. As the need for energy conservation continues to grow in the US, they have begun putting special emphasis on any project that helps to make properties energy efficient. As a result they tend to focus many of their loans on low-income properties that need additional weatherization for the winter. When used in this manner a loan can not only help to improve a property, but can help to save a great deal of money for the home owner.

These loans are aimed primarily at rural areas with populations lower than 10,000 citizens. This can at times be expanded to include areas with populations up to 25,000. However, these areas can't be included in any Metropolitan statistical zones.

Grants are always the preferred way to go since they don't need to be repaid to the government. In order to qualify for a grant the home owner must be over the age of 62 and lacks the capacity to be able to repay the loan. These grants can go as high as $7,500 per household. This can go a long ways in helping to modernize a house.

The loans offered by the Dept. of Agriculture can range up to $20,000 per household. They also offer extremely generous interest with only 1% for a 20-year-term loan. This makes it an extremely attractive loan for most people. It's highly unlikely that anyone could find such a good deal from their local banks.

Anyone interested in any of the grants or loans offered by the Department of Agriculture can visit their website for more information. The site offers maps and income calculators the home owners determine if they qualify for these programs.