Loan Limits
Home Repair Loan and Grant Program offers loans to eligible homeowners who need financial assistance for home repairs or improvements. The maximum loan amount that can be borrowed through the program is determined based on the applicant's income level, credit history, and the cost of the repairs or improvements needed. The loan limits may vary depending on the location, program guidelines, and the availability of funds. Applicants should consult with local program administrators or lenders to determine the specific loan limits applicable to their situation.
Grant Limits
Home Repair Loan and Grant Program also provides grants to qualified homeowners who need financial assistance without the obligation of repayment. The grant limits are typically lower than the loan limits and are aimed at low-income households or those with special needs. Grant amounts are determined based on the cost of the repairs or improvements needed and the applicant's eligibility for grant assistance. Grant limits may vary depending on program guidelines, funding availability, and the specific needs of the applicant.
Combination of Loan and Grant
In some cases, eligible homeowners may qualify for a combination of loan and grant assistance through the Home Repair Loan and Grant Program. The total amount of financial assistance received by the homeowner is determined based on their eligibility for both loan and grant programs. Combining a loan and grant enables homeowners to address a wider range of repairs or improvements while minimizing out-of-pocket expenses. Applicants should inquire with program administrators or lenders to explore the possibility of combining loan and grant assistance.