Loan Purposes
Repair loans can be used to improve or modernize your house, remove health and safety hazards, or install convenience items.
Loan Terms
The maximum loan that an individual applicant may receive is $20,000 (at 1 percent interest rate) based on the applicant’s repayment ability and the cost to cover eligible repairs.
Eligibility
To be eligible for a loan, you must:
- Be within the very-low income limit for the county where your home is located.
- Be the owner of a single family dwelling.
- Be able to repay the loan.
- Be unable to borrow the money from another lending source.
- Have a decent credit history.