USDA Section 504 Home Repair Loan

About This Program

Low-interest loans for rural homeowners to repair, improve, or modernize their homes. Watauga County qualifies as rural under USDA guidelines. Loans at 1% fixed interest with up to 20-year terms for those unable to obtain affordable credit elsewhere.

1% interest loan with 20-year term, monthly payment approximately $184 per $40,000

Key Details

• Loan up to $40,000 at 1% fixed interest
• Income at or below 80% area median
• Must be in rural area (Watauga County qualifies)
• 20-year repayment term
• For homeowners unable to get affordable credit

How to Apply

A grant-savvy contractor in Boone, NC can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

Deadline: Applications accepted year-round