When you hear about the United States Department of Agriculture (USDA), most people think of farming. But did you know that Rural Development, an agency in USDA, can assist with housing in rural communities? Our mission is simply to improve the economy and quality of life in rural America and Mainstreet USA. I can’t think of a better way to do that than an opportunity for home ownership.
A home is the most important financial asset you’ll ever own but it also comes with a challenge – home repairs. The USDA Home Repair Loan and Grant Program helps very low-income homeowners with funding for home repairs and improvements. Elderly residents can also receive funding to remove health and safety hazards that could otherwise force them from the home they’ve lived in for years.
In the San Luis Valley, Alamosa, Costilla, and Saguache counties have been designated as Persistent Poverty counties, meaning that at least 20 percent of residents have lived below the federal poverty line for the past 30 years. This designation allows homeowners in these communities to receive priority consideration for home repair funding.
Homeowners can borrow up to $40,000 in loans at a fixed one percent interest rate with a 20-year repayment term. Seniors 62 years or older may be eligible to receive up to $10,000 in grant funding to specifically remove health and safety hazards or improve accessibility.
These investments do far more than just fix a roof or replace a furnace; they strengthen rural communities. Families in Colorado’s San Luis Valley have lived here for generations, maintaining deep connections to the land and their neighbors and it’s my hope that by providing access to home repair resources, that history will continue and thrive.
To find out more about this program, contact our housing team at codirinquiries@usda.gov or at 719-414-6039/970-399-8199.
