For many senior citizens, living on a fixed income means not enough disposable cash available to allocate for home repairs or maintenance. In light of this, there are several federal programs designed to help low-income and elderly individuals in these circumstances, combined with Texas state funded programs that help defray repair and maintenance costs with little or no out-of-pocket expense. Does this Spark an idea?
Low-Income Federal Programs
There are several low-income federal home-repair grants and loans available to senior citizens. The United States Department of Agriculture (USDA) has a grant program that gifts up to $7,500 for home repair and maintenance, geared to low-income and elderly individuals residing in rural areas of Texas. The USDA program also offers separate grant funding for individuals in the Southwest who live in colonial-style homes, to rehabilitate plumbing and pipes in older houses.
The United States Department of Energy has weatherization grants available to low-income and senior citizens designed to help make a home more energy-efficient. This includes window upgrades, insulation, and alternative energy sources, reducing the cost of electric bills in the process.
The US Department of Housing and Urban Development (HUD) also has federal funds available to senior citizens with disabilities to make a home compliant for individuals with handicaps and special needs.
Texas Programs
The Community Services Block Grant Program (CSBG) funds health and human services needs for elderly and low-income homeowners in Texas. Funding is limited, and the application process is very time-consuming.
The Housing Resource center also provides additional grants and funds to low-income and elderly homeowners to help with home ownership and repairs, depending on need and circumstance.
Tax Credits
Senior citizens also get a break on property tax bills after they reach age 65, and are eligible for a tax credit of up to $2,000 annually. While not a grant program specifically, the savings provided to the elderly make a difference in annual expenses.
Considerations
While federal and state programs exist to help senior citizens with home repairs, the application process is lengthy and funds limited. Many seniors opt to take out low-interest loans backed by USDA or HUD programs as a subsidy or in lieu of grant money. In addition, some seniors select home equity loans or reverse mortgages; cashing out their equity, eliminating a mortgage payment and giving seniors sufficient funds for living expenses and home repairs.
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