City, OFC tout federal program for low income homeowners
NORWICH – The City of Norwich and Opportunities for Chenango are getting the word out about a federal program geared toward low income and elderly homeowners throughout the area.
In the effort to help low income homeowners maintain their home, the City of Norwich and OFC are conduits of the Section 504 Loan and Grant Program, a federal program administered through the United Stated Department of Agriculture Rural Development (USDA-RD) that offers low-interest loans to help with repairs, improvements or modernization of homes.
The program first became available in September to very low income and elderly residents in the rural areas of Onondaga, Tompkins, Cortland, Chenango, Tioga, Broome and Cayuga counties.
“The loan itself is usually considered for any reasonable repair, such as roof replacement, heating system repair, electric work, insulation or plumbing,” explained Norwich City Community Development Specialist Todd Dreyer. “Those are typically major focus areas when applicants are being considered.”
Loans can be made up to $20,000 for a maximum term of 20 years with a fixed 1 percent interest rate, contingent on the homeowner’s eligibility under very low income guidelines. The USDA-RD also considers an applicant’s credit history and ability to repay.
Very low income eligibility varies depending on household size. In Chenango County, a single-person home qualifies if their annual income is $19,950 or less. A two-person home qualifies with an annual income of $22,800 or less. Three-person homes must make $25,650 or less; and four-person homes, $28,450 or less.
Guidelines for larger families are available through the City of Norwich Office of Planning and Community Development, OFC, or the USDA-RD website.
For seniors age 62 or older who can’t afford a loan, the program also offers grants that are limited to a lifetime assistance of $7,500. These grants are to be used to remove health and safety hazards or make a home more handicap accessible.
While qualified city residents are certainly eligible for consideration, Dreyer stressed program information is also available to residents living outside the city with the help of OFC.
“The City of Norwich wants to be helpful in directing very low income homeowners and elderly homeowners to agencies that can provide assistance for needed home repairs,” Dreyer added. “We can also help folks with requirements to line up estimates from a number of certified contractors.”
For additional information on the USDA-RD Section 504 Loan and Grant Program, city residents can contact Dreyer at the City of Norwich Office of Planning and Community Development by calling 334-1229. County residents may also contact Opportunities for Chenango at 334-7114.
Additional USDA-RD New York programs can be found on the organization’s website, www.rurdev.usda.gov/ny.
In the effort to help low income homeowners maintain their home, the City of Norwich and OFC are conduits of the Section 504 Loan and Grant Program, a federal program administered through the United Stated Department of Agriculture Rural Development (USDA-RD) that offers low-interest loans to help with repairs, improvements or modernization of homes.
The program first became available in September to very low income and elderly residents in the rural areas of Onondaga, Tompkins, Cortland, Chenango, Tioga, Broome and Cayuga counties.
“The loan itself is usually considered for any reasonable repair, such as roof replacement, heating system repair, electric work, insulation or plumbing,” explained Norwich City Community Development Specialist Todd Dreyer. “Those are typically major focus areas when applicants are being considered.”
Loans can be made up to $20,000 for a maximum term of 20 years with a fixed 1 percent interest rate, contingent on the homeowner’s eligibility under very low income guidelines. The USDA-RD also considers an applicant’s credit history and ability to repay.
Very low income eligibility varies depending on household size. In Chenango County, a single-person home qualifies if their annual income is $19,950 or less. A two-person home qualifies with an annual income of $22,800 or less. Three-person homes must make $25,650 or less; and four-person homes, $28,450 or less.
Guidelines for larger families are available through the City of Norwich Office of Planning and Community Development, OFC, or the USDA-RD website.
For seniors age 62 or older who can’t afford a loan, the program also offers grants that are limited to a lifetime assistance of $7,500. These grants are to be used to remove health and safety hazards or make a home more handicap accessible.
While qualified city residents are certainly eligible for consideration, Dreyer stressed program information is also available to residents living outside the city with the help of OFC.
“The City of Norwich wants to be helpful in directing very low income homeowners and elderly homeowners to agencies that can provide assistance for needed home repairs,” Dreyer added. “We can also help folks with requirements to line up estimates from a number of certified contractors.”
For additional information on the USDA-RD Section 504 Loan and Grant Program, city residents can contact Dreyer at the City of Norwich Office of Planning and Community Development by calling 334-1229. County residents may also contact Opportunities for Chenango at 334-7114.
Additional USDA-RD New York programs can be found on the organization’s website, www.rurdev.usda.gov/ny.
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