Can I Get a Government Grant for a New Roof

Can I Get a Government Grant for a New Roof

Home repairs aren’t cheap, with roof repairs being one of the most expensive fixes on the list. Many homeowners seek out a government grant to make these repairs, but are roofs covered? With personal loans and credit cards being high-interest options, you may be looking for ways to avoid having to go down this route. While some government assistance programs can have strict stipulations, here are some options that can help you finance your new roof replacement.

Single-Family Housing Repair Loans and Grants

The most common form of government assistance when it comes to financing home repairs comes in the form of either grants or loans from the U.S. Department of Agriculture (USDA). The program, known as the Section 504 Home Repair program, provides loans to very-low-income homeowners to help them with repairs, improvements, and modernization projects for their homes. As for grants, these are provided to very low-income elderly homeowners to remove health and safety hazards. 

To qualify for loans, the recipient must meet the following criteria:

  • Be the homeowner and occupy the home
  • Be unable to obtain affordable credit elsewhere
  • Have a family income below 50 percent of the median income in the area

For grants, the recipient must be 62 years of age or older and be in a position where they cannot pay back the loan. 

How Much Money Can You Recieve?

It’s best to consult with government agencies for accurate funding information regarding government assistance for things like a roof repair, but this USDA factsheet provides a good reference point:

  • The maximum loan amount is $20,000
  • The maximum grant amount is $7,500
  • Loans and grants can be combined for up to $27,000 in total assistance.

Naturally, a loan will need to be repaid. Still, the interest rate of one percent and the repayment period of 20 years are more appealing to homeowners looking to avoid high-interest rates. Loans over $7,500 require a full title service.

As for grants, they carry a lifetime limit of $7,500 and must be repaid if the home is sold in less than three years of the repairs/funding.

Eligible Areas

A government grant or loan also has specific area stipulations. In the case of the 504 Home Repair program, a qualifying area must have a population of 35,000 people or less. 

Consider the Financing Options from The Roof Doctor

We know that a government grant may not be available to everyone needing a roof replacement, which is why The Roof Doctor offers flexible and affordable financing options. Happily serving those in Provo and Orem, as well as surrounding areas, we’re passionate about providing excellent service. Give us a call today for a free estimate and more information on our financing options. 

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