An informational meeting about the United States Department of Agriculture Rural Development Home Repair and Improvement Loans and Grants 504 program will be held from 9:30 to 10:30 p.m. on Wednesday at the Jasper County Community Center, 2401 First Ave. E., in Newton. Representatives from the Albia Area USDA office will be present to outline details of the program and answer questions.
The USDA Rural Development 504 Loans and Grants program helps very low-income owners of single family homes make needed repairs to improve or modernize their home, make it safer or more sanitary, or remove health and safety hazards. The program is designed to ensure that all Iowans living in rural communities with a population less than 20,000 have safe, affordable and quality housing.
“Jasper County has housing stock and income eligible households that can benefit from this program,” USDA Rural Development Acting State Director in Iowa Time Helmbrecht said. “It’s a wonderful program that helps people not eligible for conventional credit to upgrade their homes. When you combine the program with people who have a passion for helping others with their housing needs, good things are going to happen.”
After meeting the basic income and residency guidelines, applicants are eligible to receive a loan of up to $20,000 at 1 percent interest, with no down payment and a 20-year term. Applicants for USDA 504 grant funds to remove health and safety hazards, or aid in handicapped accessibility, must be 62 years old or older, own and occupy their own home, and have very low income. The maximum lifetime grant is $7,500 and does not have to be repaid.
Jake Scott, USDA Rural Housing Specialist, and USDA Rural Housing Technician Melinda Fadiga will be conducting Wednesday’s informational meeting and encourage all interested Jasper County residents to attend.
Additional information about the USDA 504 program is available online at www.rd.usda.gov/programs-services/single-family-housing-repair-loans-grants.