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.
- 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.
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