Federal Home Loan Program

Angela Callie forwarded to me information regarding the USDA's Rural Development Loan Program.

USDA Rural Development has a program available to assist some homeowners with repairs to their dwellings. For families or individuals with very-low incomes, Rural Development makes loans at a 1 percent interest rate for repairs, to improve or modernize a home, to make it safer or more sanitary, or to remove health hazards. Repairs to homes under the loan program can include such items as new carpet, vinyl siding and other remodeling type improvements.

The maximum amount persons can borrow under this program is $20,000 with a repayment term not to exceed 20 years. These loans are limited to households whose income falls below 50 percent of the area's median income. For example a family of four, in Northampton County, with an adjusted household income earning approximately $32,950 could qualify for this program.

For applicants that are 62 years of age or older, who have very low income and do not have repayment ability for a loan, the possibility of a grant exists.

To determine eligibility visit this Rural Development site page.

For further information call 610-791-9810 ext 4 at the USDA Rural Development’s Allentown office.