USDA offering loans for home improvements - KWWL - Eastern Iowa Breaking News, Weather, Closings

USDA offering loans for home improvements


Iowa's long winter and spring rains can really take a toll on buildings and homes.

If your house is in need of essential repairs this spring such as a new roof, siding or furnace, USDA Rural Development has low-interest loans and grants available to help eligible families make needed improvements.  Loans have a fixed interest rate as low as one percent and typically may be repaid over a term of 20 years.

According to the USDA, to be eligible for a repair loan, the family applying must own and live in the home to be repaired, lack personal resources to pay for needed repairs, have a good credit history, limited assets and have repayment ability.

The USDA says eligible projects include repair/replacement of storm doors, windows, steps, furnaces, water heaters or roofs.  Funds can also be used for insulation, electrical, plumbing, septic and water systems, and to provide accessibility for persons with disabilities.  Homes repaired with these funds must be located in communities of less than 20,000 people or in rural areas.

The property cannot have any income-producing outbuildings.

If you live in northeast Iowa, and want to learn if you qualify, call the USDA Rural Development office in Waverly at (319) 352-1715 Ext 4.  More information is also available here.

The Waverly office serves Allamakee, Black Hawk, Bremer, Buchanan, Chickasaw, Clayton, Delaware, Fayette, Howard and Winneshiek Counties.




Powered by Frankly