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 grant and 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 disabilities.

Fill out our Home Repair Application Here!

Clinch-Powell is a certified packager for the USDA 504 program.  This program helps very-low-income homeowners in eligible rural areas with home repairs, requiring applicants to own and occupy the home, be unable to get affordable credit elsewhere, and have income below area median limits. For grants, applicants must also be 62 or older and unable to repay a loan, with funds used for health/safety hazards, while loans (max $40k at 1%) cover general repairs. Eligibility hinges on income, location, property ownership, and financial need, with credit history important for loans.

General Eligibility Requirements (Loans & Grants)
  • Homeownership: Must own and personally occupy the home (or have a life estate/long-term lease).
  • Income: Total household income must not exceed the very-low-income limit for the county (typically under 50% of area median income).
  • Credit: Must be unable to secure affordable credit from other sources; good credit history needed for loans.
  • Location: Property must be in a USDA-eligible rural area (check the USDA eligibility map).
  • Citizenship: Must be a U.S. Citizen or permanent resident.
  • Resources: Lack sufficient personal resources (cash, securities) for repairs.
Specific Requirements for Grants (Ages 62+)
  • Age: Applicant or co-applicant must be 62 years or older at the time of application.
  • Need: Must demonstrate an inability to repay a loan.
  • Use: Funds (up to $10,000) must correct health and safety hazards (e.g., faulty wiring, roofing).
Loan Details
  • Amount: Up to $40,000 for repairs, improvements, or modernization.
  • Interest: Fixed at 1%.
  • Term: Up to 20 years.

This program addresses specific health and safety repairs like HVAC, roofing and windows on homes in eligible rural areas.  Household income must be at or below 80% of area median income (amount depends on the county).  The owner must occupy the home.

General Eligibility Requirements
  • Homeownership: Must own and personally occupy the home (or have a life estate/long-term lease) for more than one year.
  • Income: Total household income must not exceed the low-income limit for the county (typically under 80% of area median income).
  • Credit: Must be unable to secure affordable credit from other sources; good credit history needed for loans.
  • Location: Property must be in a USDA-eligible rural area (check the USDA eligibility map).
  • Citizenship: Must be a U.S. Citizen or permanent resident.
  • Resources: Lack sufficient personal resources (cash, securities) for repairs.
  • Property:  Must meet guidelines
  • Lien: Forgiven over 3 years as long as owner lives in the home.
Specific Requirements
  • Age: Owner/Applicant must be at least 18 years old and have owned and lived in the house for more than one year.
  • Need: Must demonstrate an inability to fund repairs themselves and repairs bring up to health and safety standards
  • Use: In general, funds (up to $10,000) must correct health and safety hazards (e.g., HVAC, roofing, windows).

This highly competitive grant program through the Federal Home Loan Bank of Cincinnati is available once per year. We take applications from November to mid-January.  Award decisions are made by the FHLB in February and March of each year.

General Eligibility Requirements
  • Homeownership: Must own and personally occupy the home for more than one year.
  • Age:  Must be 60 or older
  • Income: Income eligibility varies by county.
  • Citizenship: Must be a U.S. Citizen or permanent resident.
  • Resources: Lack sufficient personal resources (cash, securities) for repairs.
  • Property:  Single family detached homes only (no mobile homes).
  • Use: Accessibility and/or emergency repairs