Department Name

Single Family Housing Repair Loans & Grants in New Jersey

Low-Income/Senior Home Repair Loans/Grants


Detail News:

Single Family Housing Repair Loans & Grants in New Jersey

Also known as the Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve, or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards.  For full details, visit the following link: Low-Income/Senior Home Repair Loans/Grants

For existing Section 502 direct and 504 borrowers who have received a payment moratorium related to COVID-19: The American Rescue Plan (ARP) Act of 2021 appropriated additional funds for Section 502 direct and 504 loans, to remain available until September 30, 2023.  The focus will be to refinance existing Section 502 direct and Section 504 borrowers who have received a payment moratorium related to COVID-19.  Beginning May 17, 2021, the Agency will accept applications from existing Section 502 direct and Section 504 loan borrowers, to refinance outstanding loans which have been in an approved COVID-19 moratorium.  Additional information for these borrowers, including a standardized application package, is available at https://pubmai.sc.egov.usda.gov/.

Who may apply for this program?
To qualify, you must:

  • Be the homeowner and occupy the house
  • Be unable to obtain affordable credit elsewhere
  • Have a family income below 50 percent of the area median income i
  • For grants, be age 62 or older and not be able to repay a repair loan

How may funds be used?

  • Loans may be used to repair, improve or modernize homes or remove health and safety hazards
  • Grants must be used to remove health and safety hazards

How much money can I get?

  • Maximum loan is $20,000
  • Maximum grant is $7,500