It’s safe to say that homes can lose value over time.
With wear and tear through the year, most homes tend to take on some damage, and it’s up to you to perform all the necessary repairs on it if you want it to remain as beautiful as it was when you first bought it.
On top of this, if you’re actually looking to sell your home, prospective buyers are lured in much more easily when everything is in order.
However, home repairs can come at quite a steep price, and not everyone can afford to renovate their home every so often.
This is where government grants come in, giving you that much-needed push to afford all those fixes around and inside your home that you may have had in mind.
In fact, low-income households may have access to more government grants than you thought possible, and this article will try to educate you on all of these opportunities available to you.
You should, however, note that among the government grants out there, a lot of them have specific requirements that you’ll have to meet in order to qualify.
This is why it’s integral to do a thorough examination of these requirements as well as your financial circumstances.
By doing this, you may be able to find a grant that’s a perfect fit for you.
Look through all the home improvement grants available in your area and research each of them thoroughly, because you never know when an opportunity might pop up.
For the most part, these grants don’t have to be paid off, and they’re made possible by the HUD and USDA.
If the repairs became necessary due to a natural disaster, you may also be able to apply for grants from the Federal Emergency Management Agency.
Usually, the grants provided by the Department of Housing and Urban Development are worth looking through, and if you’re in a tight spot, they might just be the thing to help you repair your home.
Do keep in mind that these grants are much different from HUD loans, as they don’t have to be paid back.
Additionally, it’s highly advised to look at HUD Title 1 Property Improvement Loans, which focus on providing assistance to the elderly, minority groups, low-income households, and those with qualifying disabilities.
Of course, you will require a solid credit history to qualify, as well as be able to repay the loan within a set amount of time.
If both of these conditions are met, you may just be accepted to the program and get started with the home repairs you’ve been dreaming of.
Section 504 Home Repair
This program was made possible by the US Department of Agriculture and Rural Development, and it’s a great option for low-income households in need of home repairs.
Oftentimes, this also includes safety issues that need to be addressed, and if you take a closer look, you’ll find that they’re much more generous than other grant programs.
By being accepted to the Section 504 Home Repair Program, you can receive grants up to $7k and home repair loans which can go up to $20k, although the latter need to be repaid, whereas the former don’t.
Typically, the program offers assistance to elderly homeowners who simply can’t afford to pay for the repairs they need, and if you’re able to pay only a portion of the total expenses, you may qualify for the program.
It’s important to remember that Section 504 grants are obtainable only once, and if you do receive yours, you won’t be able to apply for a second one later on.
This essentially means that you should only apply if it’s truly necessary, and if it isn’t, you may want to keep this option on hold for the time being.
FEMA home repair program
If your home suffered damages due to a natural disaster in recent times, you may want to apply for a FEMA grant to get started on the repairs.
You should, however, make sure that you’re eligible for the program before considering it to be a viable funding option for you.
The program focuses on providing assistance with repairs to the home’s utilities and septic tank systems that may be installed.
Despite offering their services to individuals that were negatively impacted by a natural disaster, the Individuals and Households program doesn’t offer coverage of all the repair costs, instead, they only cover the costs of basic needs and relief efforts.
Through the program, individuals may receive assistance such as temporary housing units, hazard mitigation, and funding for all the needs caused by the disaster in question.
Although this isn’t exactly a government grant, the Low Income Household Energy Assistance Program is still able to provide help to individuals and households in need.
They do this by covering a portion of their energy expenses, making it easier to pay for other utilities, so long as you’re eligible for the program.
Typically, LIHEAP offers assistance with the risks posed by hazardous cooling and heating systems and even helps replace them with more energy-efficient systems.
Despite LIHEAP being a government-funded program, its budget is heavily influenced by local and state governments, which administer the program to those in need.
On the other hand, if you already qualify for other assistance programs like SNAP and SSI, you may be able to automatically qualify for LIHEAP as well.
Home repairs can be costly, and for some individuals and families in the US, it’s difficult to keep their home in the state they received it.
To help offset these difficulties, the federal government created grant and loan programs that offer assistance with some or all of the expenses of the necessary repairs to a home.
At times, these programs are only applicable to certain demographics, whereas others are available to those affected by natural disasters.
Thoroughly research all of the options available to you and find the one that works best.