| ROCHELLE, IL… The City of Rochelle Economic Development office has been recently made aware of a United States Department of Agriculture (USDA) Rural Development program that would allow qualifying very-low income homeowners in Rochelle to apply for home repair grants or low interest home improvement loans. Homeowners living in communities with 20,000 people or less in Carroll, Jo Daviess, Lee, Ogle, Stephenson, and Winnebago counties are also eligible to apply.
A Rural Development repair loan is similar to a home improvement loan. The money must be used to improve or modernize homes, make them safer and more sanitary, or remove health and safety hazards. Eligible repairs include roofing, siding, windows, foundation repairs, kitchen cabinets, septic system, furnace/air conditioning, and more. The maximum loan amount is $20,000. Loans can be made for a term of 20 years at one percent interest. The applicant needs to own and occupy the home, have acceptable credit, and be able to repay the loan.
A limited number of home repair grants are also available to applicants who meet very low income guidelines, are 62 years of age or older, and who can demonstrate an inability to make loan payments. There is a $7,500 lifetime limit on repair grant funds. Grant funds can only be used to address health, safety or accessibility issues for the home. Unlike loans, grants do not have to be repaid. Grants are frequently made in conjunction with small loans.
“We want the community to know that we can help homeowners afford needed repairs that can make their homes safe and improve their standard of living,” said Lorali Heintzelman, Area Specialist. “People interested in a loan or a grant and think they might be eligible should give us a call. We can walk them through the process, and get them on the road to making the repairs,” Heintzelman added.
To learn more about these programs, homeowners are encouraged to contact Lorali Heintzelman at the Oregon Rural Development Office at (815) 732-6127, ext. 4 or visit the office at 213 West Pines Road, Suite 2, in Oregon.
“The City of Rochelle is pleased to support this senior program by distributing information and referring qualified Rochelle residents to the local Rural Development office,” said Peggy Friday, Commercial and Retail Development Coordinator. “This program can also benefit local small businesses by generating work for contractors, builders, and home repair companies,” Friday added.
Information is also available online at www.rurdev.usda.gov/il. Eligibility rules apply.
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