![]() Have a household income that does not exceed the very low limit by county.Be unable to obtain affordable credit elsewhere. ![]() Additional information for these borrowers, including a standardized application package, is available at. Applications must be post-marked, hand delivered, or electronically submitted to a USDA-Rural Development Office by June 30, 2023, to be accepted for refinance processing. The primary goal was to help USDA borrowers ensure their home payments could stay affordable once their moratorium period ended. We will continue to accept applications to help existing USDA Single Family Housing Direct borrowers who were approved for COVID-19-related payment moratoriums (a period during which their monthly loan repayments were stopped), and self-help borrowers with permanent loans which were closed on or after Octo(regardless of moratorium status), refinance their mortgages through June 30, 2023. However, as part of the Fiscal Responsibility Act of 2023 (Public Law 118-5 – available at this link: ), funding for this ARPA program was rescinded in June 2023. ![]() When first signed into law in 2021, the American Rescue Plan Act (ARPA) allocated additional funds for USDA Rural Development’s Single Family Housing Direct Loan program. 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.įor existing Section 502 direct and 504 borrowers who have received a payment moratorium related to COVID-19 (or Self-Help borrowers whose permanent loan closed on or after ).
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