Transcription of CHAPTER 12: SECTION 504 LOANS AND GRANTS
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CHAPTER 12: SECTION 504 LOANS AND GRANTS
HB-1-3550 INTRODUCTION The objective of the SECTION 504 loan/grant program is to help very low-income owner occupants of modest single family homes in rural areas repair their homes. Loan funds are available for repairs to improve or modernize a home, make it safer or more sanitary, or remove health and safety hazards. For homeowners 62 and over who cannot repay a loan, grant funds are available to remove health or safety hazards, or remodel dwellings to make them accessible to a household member with a disability. Attachment 12-A provides a summary of the differences between SECTION 504 LOANS and SECTION 504 GRANTS , Attachment 12-B provides the differences between SECTION 502 and SECTION 504 LOANS , Attachment 12-C provides a processing and closing checklist, Attachment 12-D provides a checklist for assessment of an existing dwelling, and Attachment 12-E provides items included with a complete application.
6.4, unless specifically prohibited in this chapter. Section 504 grant funds may be used only for repairs and improvements that will remove health and safety hazards, or to repair or remodel dwellings to make them accessible and useable for a household member with a disability. 12-1 (01-23-03) SPECIAL PN Revised (10-05-17) PN 504
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