USDA Section 504 Home Repair Loan & Grant

About This Program

USDA Rural Development's Section 504 program provides loans up to $40,000 at 1% fixed interest (20-year term) and grants up to $10,000 to homeowners age 62+ to remove health and safety hazards. Loans and grants can be combined for up to $50,000. Properties must be in eligible rural areas – use the USDA eligibility map to verify your address.

Grants up to $10,000 for elderly; loans at 1% over 20 years. Combined maximum of $50,000 for eligible projects.

Key Details

• Must own and occupy home in eligible rural area (verify at eligibility.sc.egov.usda.gov)
• Grants up to $10,000 for homeowners age 62+ to remove health/safety hazards
• Loans up to $40,000 at 1% fixed interest, 20-year term
• Very low income required (≤50% AMI)
• NM USDA Rural Development Office: 505-761-4950

How to Apply

Deadline: Rolling