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Home repair loans and grants available

Do you have home repairs that need to be done? Do you want to replace that old furnace, need a new roof or some other type of home repair? USDA, Rural Development, has a home repair program for very low income homeowners to finance basic home rep...

Do you have home repairs that need to be done? Do you want to replace that old furnace, need a new roof or some other type of home repair?

USDA, Rural Development, has a home repair program for very low income homeowners to finance basic home repairs, install essential home features or to remove health and safety hazards.

Income limits vary by county and average $22,350 for a one-person household, and $25,550 for two-person households. Income limits increase for larger households.

For loan eligibility, applicants must have an acceptable credit history, show repayment ability, and be unable to afford a conventional loan.

The maximum loan amount is $20,000 repayable over a term of up to 20 years with a 1 percent interest rate.

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Grant funds, up to $7,500, may be available for eligible homeowners 62 or older who do not have loan repayment ability and need a major health and/or safety hazard removed.

For assistance in Carlton, Cook, Lake and St. Louis counties, contact the USDA, Rural Development office at 218074103929 ext. 4. Information is also available at www.rd.usda.gov/mn .

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