USDA REPAIR GRANT PROGRAM
USDA Rural Development’s 504 Grand & Direct Loan Program
Motivative Consulting’s Owner Eddie Ray Jackson is a loan packager for USDA Rural Development’s 504 Repair Grant Program. He can do a complete loan or grant application for you in a matter or minutes. Please read carefully below and see if you would be interested in applying for the program. Here is some information to consider before applying for the repair grant program.
Who may apply for this program?
To qualify, you must:
- Be the homeowner and occupy the house
- Be unable to obtain affordable credit elsewhere
- Have a family income below 50 percent of the area median income
- For grants, be age 62 or older and not be able to repay a repair loan
How may funds be used?
Loans may be used to repair, improve or modernize homes or remove health and safety hazards Grants must be used to remove health and safety hazards
How much money can I get?
- Maximum loan is $40,000
- Maximum grant is $10,000
- Loans and grants can be combined for up to $50,000 in assistance
Note: Rural homeowners in Mississippi may be eligible for higher loan or grant amounts under the Single Family Housing Section 504 Repair Pilot Program. Please contact Motivative Consulting, LLC to see how much a eligible application can receive in Mississippi.
What are the terms of the loan or grant?
- Loans can be repaid over 20 years
- Loan interest rate is fixed at 1%
- Full title service is required for loans of $7,500 or more
- Grants have a lifetime limit of $10,000
- Grants must be repaid if the property is sold in less than 3 years
If applicants can repay part, but not all of the costs, applicants may be offered a loan and grant combination
Is there a deadline to apply?
Applications for this program can be done on this site to be turned in to the local USDA Offices in Louisiana and Mississippi year round.
How long does an application take?
Approval times depend on funding availability in your area. Motivative Consulting, LLC has made it so simple to apply directly from the site.
Why does Motivative Consulting, LLC do this?
Sometimes the application process can be daunting for some individuals and Motivative Consulting, LLC wants to help people stay in their own home. Keeping their home in good repair helps families and their communities stay healthier. Home ownership helps families and individuals build savings over time. It strengthens communities and helps many kinds of businesses that support the local economy.
