Section 504 Home Repair Loan and Grant Program – Important Updates

USDA Rural Development sent this bulletin at 05/17/2023 03:36 PM EDT

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SFH Direct Loan and Grant Programs

May 17, 2023

Section 504 Home Repair Loan and Grant Program- Important Updates

With the posting of PN 582 dated May 17, 2023, changes were made to Handbook-1-3550, Chapter 12 to update and improve the Section 504 Home Repair Loan and Grant Program. Changes include but are not limited to:

Allowing grant eligible applicants (very-low income homeowners who are 62 years of age or older) to be considered for grant funds first and foremost; and then consider repayment ability for a loan as needed.

An updated 504 Automated Worksheet can be found on the Single Family Housing Repair Loans & Grants page (under the ‘To Apply’ tab).

Allowing 504 funds to be used for decks, driveways, and landscaping.
Adding guidance regarding the transfer of ownership and the lifetime maximum grant assistance.
Updating Attachment 12-C, 504 Single Family Housing Loan and Grant Checklist, and Attachment 12-E, Checklist of Items to Accompany Application for Home Repair Loan or Grant Funds, to improve the formatting and make minor corrections.

Program Information

Single Family Housing Direct Loans

Single Family Housing Repair Loans and Grants

Mutual Self Help Housing Technical Assistance Grants

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