Remodeling with a Grant

Remodeling with a Grant

Remodeling with a Grant

Government grants for remodeling your home? It sounds too good to be true, but you can really get money from the federal government or your state for some home improvements under certain circumstances. Many of these grant programs are administered through community organizations and some are only available to people who meet certain income, disability, or geographic standards.

Most of these programs take the form of loans rather than outright grants, but the loans are at much lower interest rates than normal and are often insured loans given to people who wouldn't otherwise qualify. Below are some of the categories you can get remodeling grants for:

Exterior: Some grants can help you ensure that your house complies with contemporary construction standards. Applicable remodeling projects include improvements to the roof, sidings, doors and windows, modernizing water supplies and sewage, or installing ramps and bars for enhanced handicapped accessibility.

Interior: You can also get grants for handicapped accessibility inside your house. Other applicable improvements include emergency repairs to a non-functional electric or water system to bring a house up to code as well as major structural changes and floor replacement. Usually the renovations need to affect health and security, but some programs give grants for improvements that are largely cosmetic. Check with your homeowner's insurance company to see whether they help cover adaptive modifications. Rebuilding Together, local agencies on aging, and the Veteran's Administration are also additional resources to investigate for eligibility.

Energy Efficiency: Some states and municipalities offer grants and loans to improve your home's energy efficiency by installing a renewable power source, adding insulation, replacing windows, or similar improvements. The federal government and some states also offer tax rebates for renewable power systems.

Historic Homes: Some states have grant money for the rehabilitation of historic homes check with your local historical society for information. You can also visit the National Trust for Historic Preservation for a list of available funding resources.

Fixer-Uppers: Under some circumstances the U.S. Department of Housing and Urban Development (HUD) will provide a low-interest, insured loan to purchase and/or rehabilitate a home. Since most banks won't provide loan funds until renovation work is complete, a HUD loan can be a lifesaver for some homeowners.

Disaster Recovery: If your home was affected by a natural disaster that was declared eligible for federal assistance, you can apply for assistance to help repair your home, http://www.disasterassistance.gov/daip_en.portal. You can also visit fema.gov.

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