For many people on a fixed income including senior citizens, those with disability status, and veterans, it can be a challenge to find the funds to pay for extensive home repairs – especially foundation issues. At Geobear, we know that fixing your home is a priority, but it’s not always feasible for everyone due to financial issues or income concerns.
Let’s face it, the cost of foundation repairs is often an unexpected cost that can be detrimental to your finances if you depend on a fixed income. Below, we’ve compiled a resource list of sites, grant programs, and specialty home repair programs to help you exhaust the available resources to get the repairs you need.
- US Department of Housing and Urban Development Programs: The US Department of Housing and Urban Development (HUD) has compiled a list of resources by town/city to help homeowners buy or repair homes based on a variety of needs. Some programs such as Veterans Affairs or VA Loans are available to specific populations, while others are available in specific cities or regions.
- 203(K) Rehabilitation Mortgage Insurance: FHA’s Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can pay for property repairs or improvements. Read the article or reach out to a qualified mortgage consultant to learn more.
- US Department of Veterans Affairs: The US Department of Veterans Affairs offers home loans for purchase and refinance to support veterans, servicemembers, and surviving spouses in buying and/or repairing homes. To learn more about options, check out the page here or reach out to a qualified mortgage company.
- US Department of Agricultural Rural Development Programs: The USDA offers single family housing repair loans and grants to help California residents handle necessary repairs. The Section 504 Home Repair program 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. The program limits grants to $10,000 and loans of up to $40,000.
- California Housing Finance Authority: CalHFA offers several programs for loans to purchase and repair homes in California to qualified parties needing assistance. Review the loan options to see if any options are appropriate for your needs.
- Rebuilding Together: Rebuilding Together has several local affiliate locations in California that help qualified homeowners get repairs or grants for repairs completed for their homes. Look for your local branch to learn more about available programs and options.
- California Department of Aging: The California Department of Aging offers resources for seniors in need throughout California. For seniors in need, the agency recommends calling 1-800-510-2020 to discuss needs, request help, and be referred to the best local resources.
Most importantly, let your team at Geobear know how we can help. We offer discounts for veterans, servicemembers, elderly, and disabled homeowners who need it most to help. We can help you identify financing options, grant options, and other resources. We do this to hep serve our community and help you get the repairs you need to continue living in your home safely.
