USDA Section 504 Home Repair Loan

USDA Rural Development

Available Home Repair

About This Program

Very low-interest loans (1% fixed) to very-low-income homeowners in eligible rural areas for home repairs and improvements. Portions of Henry County outside New Castle city limits may qualify. Loans can be combined with grants for seniors.

1% fixed interest loan, 20-year term, monthly payment based on income

Data last verified 2026-06-09. How we verify our data.

Key Details

  • Loan up to $40,000 at 1% fixed interest
  • 20-year repayment term
  • Must be in eligible rural area of Henry County
  • Very low income required (50% AMI or below)
  • Can be combined with Section 504 grant for seniors

How to Apply

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

You will likely need a contractor to apply

Projects like this almost always need a licensed contractor, and many grants ask for a written estimate as part of your application. Lining up a contractor in New Castle early keeps your application moving.

Get matched with a contractor

Each program sets its own contractor rules. Check the official program page for exact requirements.

Deadline: Applications accepted year-round

Questions about this program?

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Need a Contractor for This Grant?

Grant-approved contractors understand the documentation, inspections, and timelines, so your funding releases on schedule.

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