Home Repair

If you own your home and need to make repairs or accessibility updates, we can help! Clinch-Powell can assist you with financing these repairs through one of our repair loan programs. The programs can be used to make non-cosmetic repairs that will weatherize your home and lower utility cost, repair structural issues, or provide updates to the home in order to improve accessibility to a resident with one or more disability.

Programs and Products

USDA 504 Home Repair Loan

Loan Terms and Benefits
  • 20 year term
  • Fixed Rate 1%
  • Up to $7500
  • No Lien put on home
Location and Property Qualifications
  • Must be in RD eligible area
  • Property must meet some guidelines
Eligibility
  • Must be considered very low income
  • Must have stable income Ability to repay Borrower must occupy home

Appalachian Renovation Loan Program (ARLP)

This program is available for 31 counties across Tennessee. Contact us today to see if you are eligible!

ARLP for Distressed Counties

Counties

Bledsoe, Campbell, Cocke, Fentress, Grundy, Hancock, Johnson, Lewis, Pickett, Rhea, Scott, and Van Buren

Loan Terms and Benefits
  • 5 Year Term
  • Fixed Rate 0%
  • Amounts from $5,000 - $25,000
Location and Property Qualifications
  • Must be in Distressed County (see above list)
  • Property must meet some guidelines
  • Must have hazard insurance
Eligibility

ARLP for At-Risk Counties

Counties

Carter, Claiborne, Clay, Grainger, Greene, Jackson, Jefferson, Lawrence, Macon, McMinn, Meigs, Monroe, Morgan, Overton, Polk, Unicoi, Union, Warren and White

Loan Terms and Benefits
  • 15 Year Term
  • Fixed Rate 4%
  • Amounts from $5,000 - $25,000
Location and Property Qualifications
  • Must be in At-Risk County(see above list)
  • Property must meet some guidelines
  • Must habe hazard insurance
Eligibility
  • Income Limits vary by county
  • Income Limits vary by county
  • 620 FICO Score
  • Must have stable income
  • Borrower must occupy home
  • Post-Purchase Education Required

Clinch-Powell Home Repair Loan

Loan Terms and Benefits
  • 100% Financing
  • Up to 5 Year Term
  • Fixed Rate 4%
  • Up to $7500
Location and Property Qualifications
  • Must be in RD eligible area
  • Property must meet some guidelines
Eligibility
  • Income 80% AMI or below
  • Must have stable income
  • Ability to repay
  • Borrower must occupy home
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