Nevadas 504 Home Repair Program United States Department of - PowerPoint PPT Presentation

United States Department of Agriculture Rural Housing Service United States Department of Agriculture Rural Development Rural Housing Service Nevada’s 504 Home Repair Program

United States Department of Agriculture Rural Housing Service Single Family Housing Programs  502 Direct Loan  502 Guaranteed Loan  504 Home Repair Loan & Grant

United States Department of Agriculture Rural Housing Service 504 Home Repair Loan and Grant With a 504 loan or grant you can:  Install radon mitigation systems  Fix a roof  Replace windows or doors, add insulation  Repair a bathroom  Replace a water heater  Repair heating and electricity  Repair a well or septic tank  Make a home handicap accessible  Much, much more!

United States Department of Agriculture Rural Housing Service Who is eligible?  Must be a homeowner who occupies the house  Must be unable to obtain affordable credit elsewhere  Must show family income below 50 percent of the area median income  62 or over may qualify for grants

United States Department of Agriculture Rural Housing Service 504 Home Repair Loan and Grant

United States Department of Agriculture Rural Housing Service 504 Home Repair Loan and Grant Qualifications: – Location-rural – Income (assets) – Age-62 (grant only)

United States Department of Agriculture Rural Housing Service How much is available?  Maximum Loan is $20,000  Maximum Grant is $7,500-only for seniors 62 and over.  Combination loan and grant available up to $27,500  Loans can be repaid over 20 years  Interest rate on loans is 1%

United States Department of Agriculture Rural Housing Service How Do We Determine Income? Gross Income less the following adjustments:  Dependent deductions  Elderly Household  Child Care Expenses  Medical Expenses  Disability assistance

United States Department of Agriculture Rural Housing Service We have an office near you! Southern Nevada 7080 La Cienega St. #100 Las Vegas, NV 89119 Michele Joe 702-407-1400 Ext. 112 Michele.joe@nv.usda.gov Northern Nevada 555 W. Silver St. Ste. 101 Elko, NV 89801 Maria Murillo 775-738-8468 Ext. 4 Maria.murillo@nv.usda.gov Nevada State Office 775-887-1222

United States Department of Agriculture Rural Housing Service Questions or Concerns? Please don’t hesitate to contact: Kelly Clark (775) 887-1222 Ext. 130 Kelly.clark2@nv.usda.gov