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Home Improvement Grants and Loans in Rhode Island

By Tiffany Raiford

Many Rhode Island homeowners are unaware that they can apply for home improvement grants and loans in order to make repairs or add additions to their Rhode Island homes. These programs are often run by government agencies that provide the funding for homeowners to make necessary changes to their homes. Some have stricter requirements than others but if you qualify, you're able to receive funding and begin the repairs or additions you desire for your home.

Single Family 504 Repair Loan

The single family 504 repair loan is available to very low income, rural-area families to make needed repairs on their home. This program is offered by the United States Department of Agriculture. If you qualify as a low income family, with an inability to receive a loan from another lending source, you might be eligible to add an addition to your home for up to $20,000 with a very low interest rate on a 20-year term.

Department of Veteran's Affairs

The Rhode Island offices of the Department of Veteran's Affairs offers homeowners the option to apply for both loans and grants to make modifications to their existing home. You must be a US vet and the addition you wish to make to your home must include a modification that allows your home to better suit your family's health needs. For example, if someone in your home is wheelchair bound and you need to add wheelchair accessible features, you might qualify for one of these loans and/or grants.

Rhode Island Department of Health

The Rhode Island Department of Health offers programs for residents who have a home in which lead paint was used in construction. This program is designed to help homeowners cover the expense of remodeling and making structural changes that will remove lead paint from a home. Lead paint, while very commonly used several decades ago in the home building process, is something that is particularly dangerous to your health and the health of everyone living in your home. If you suspect your home has lead paint, this might be a program that works for you.

Not everyone in Rhode Island will qualify for one of these loan or grant programs that allow you to make modifications or additions to your home. However, for those who show extreme financial need and/or meet a few other minor stipulations, there are programs available. It's imperative you check your local programs to ensure that the requirements haven't changed, as they sometimes do, so that you don't eliminate a grant or loan without first applying for it.

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