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Grants, loans available for repairs

News Worthington,Minnesota 56187 http://www.dglobe.com/sites/all/themes/dglobe_theme/images/social_default_image.png
Grants, loans available for repairs
Worthington Minnesota 300 11th Street / P.O. Box 639 56187

SIBLEY, Iowa — The Northwest Iowa Regional Housing Trust Fund Inc. has announced the release of $344,237 from the Iowa Housing Trust Fund for 2014. The money, along with $55,545 in matching funds from participating counties, will allow the agency to provide financial assistance to low- to moderate-income homeowners in making necessary repairs to their homes in the form of grants or loans.

Residents in Lyon, Osceola and O’Brien counties are among those eligible for the program.

Households with incomes under 30 percent of the area median income limits are eligible for financial assistance in the form of a forgivable grant up to $7,500 for home repairs. Households at 31 to 80 percent of the area median income limits are eligible for financial assistance for a combination of a grant up to $7,500 and a low interest (2 percent) loan up to $15,000. Applicants with incomes between 31 percent to 80 percent AMI are only eligible for the grant after two-thirds of the project costs are covered by the low-interest loan.

Basic structural repairs such as roofs, windows, siding, etc., are eligible for the program.

Applications for 2014 may be obtained by contacting Sherry Zinn at (712) 262-7225, ext. 139.

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