Application forms are now available for senior homeowners looking to repair or modify their homes under the Seniors Home Adaptation and Repair Program.
The program provides a low-interest, home-equity loan to eligible senior homeowners to finance needed repairs or adaptations that will help them remain independent in their own homes. Seniors could use the loan to widen a hallway for better accessibility or to install a walk-in tub or for a wide variety of adaptations or repairs.
Requirements
Under the program, a maximum loan of $40,000 will be available to seniors with an annual household income under $75,000. Seniors must also have a minimum 25 percent equity in their homes. Low-income seniors who do not qualify under the loan program may still be eligible for a grant to help pay for essential home repairs.