Sometimes life throws curveballs. Unexpected home repairs, like needing a new roof, can be expensive. Obtaining a government rebate can help with the cost. If you’re looking to improve the value of your home, or if are simply in need of a new roof, government rebates can help get the job done for a fraction of the price.
There is a wide array of options when it comes to funding home repair with government funding. Here are some of the rebates you can consider pursuing.
2019 Government Rebates for Roofing
The terms and conditions of government rebates or grants differ. Check to see if you’re eligible before applying to maximize your chances of securing the funds you’re budgeting for.
Section 504 Home Repair Program
The Section 504 Home Repair Program is offered by the United States Department of Agriculture and Rural Development and is designed to help low-income homeowners obtain the necessary funds to upkeep their homes.
Do you qualify? Here are some of the eligibility criteria:
- Applies to low income or homeowners over the age of 62
- Must be the homeowner and also occupy the house
- Up to $7,500 available for grants and $20,000 for loans
- Grants and loans can be combined for a total of $27,500 in repairs
- Processed in order of application, so the sooner you apply the sooner you get funding
Homeowners can apply through the USDA website, or contact a local representative to get started.
The Housing Preservation Grant
The House Preservation Grant is offered by the United States Department of Agriculture and Rural Development and is given to organizations, not individuals.
Here’s what to know about these grants:
- Applies to low-income organizations, including local governments, tribal communities, and nonprofits
- Individual homeowners are not eligible
- USDA is offering a total of $15,888,420 for home repairs and rehabilitation of rural housing
- The 2019 deadline was July 8, 2019
- Review the Notice of Solicitation of Application to prepare your application for the upcoming year
Contact your RD State office for further questions about obtaining this grant or for 2020 deadlines.
Weatherization Assistance Program
The Weatherization Assistance Program is offered by the U.S. Department of Energy to help low-income families reduce energy costs by increasing the energy efficiency of their homes. Roofs can play a huge role in energy efficiency so the program could cover some new roofing costs.
Here are key takeaways about this program:
- Applies to low-income families determined by the state in which they live
- The program typically gives preference to families with children, one or more members with a disability and homeowners over 60 years of age
- 20 to 30 million families in the U.S. are currently eligible
- Save an average of $283 annually by reducing energy costs with updated systems
Housing Improvement Program
The Housing Improvement Program is offered by the U.S. Department of the Interior Indian Affairs and is available for some American Indian and Alaska Native families.
What to know about the Housing Improvement Program:
- Applies to very low-income American Indian and Alaska Native families
- Must be a member of a federally recognized Alaska Native or American Indian tribe and live in a tribal service region
- Applicants must have not had home repair assistance after October 1, 1986
- Financial awards may vary
To apply, fill out BIA Form 6407 with the closest housing office
Alternatives to a 2019 Government Rebate for Roofing
Government funding and financial aid can be competitive. Are you unable to secure the necessary budget to complete your roofing project? Consider alternative methods like applying for a small home improvement loan, taking out a 0% APR credit card, applying for a Home Improvement Program loan, budgeting your money or borrowing from family.
Small home improvement loan
Home improvement loans can be a great alternative to accumulating credit card debt. Factors that influence your ability to obtain a home improvement loan include your credit score, financial history and reported income. Before deciding on a loan, here are a few things to consider:
- Loan amount compared to the cost of the project
- Interest rates
- Amount of time it will take for funds to become available
- Your ability to make payments on time
0% APR credit card
This type of credit card offers an introductory time period, usually six months to a year, with zero percent interest on transactions. When it comes to making big purchases, like a new roof, using a 0% APR card means you don’t have to pay for the added interest that usually comes with making large transactions on a regular credit card — if you repay the money before the introductory rate expires. Different banks offer variations of the 0% APR credit card, so compare offers to determine how long each introductory rate is and what the interest rate will jump to after that expires.
Local government loans
Your county has an interest in making sure the buildings in the area are kept. Depending on the county in which you live, you might be able to get a loan subsidized by local government. Counties do this to maintain local structures and service low-income families. For example, San Diego County has a robust program for home buyers and homeowners. You can check to see if your county offers something similar by visiting your county’s website or calling their offices.
Save more money
If you have extra time before you need to proceed with your roofing project, it might be advantageous to try saving up for the costs of the repair. Balancing daily expenses and long-term financial goals can be difficult. Meeting with a financial advisor or using a budgeting app like Mint or PocketGuard can help. If you’re able to use your own money for your roofing project, you can avoid paying interest and relying on third parties for funding.
Borrow from family or friends
If you need money fast and don’t have access to traditional financing, you can consider asking family or friends for a loan. There are a lot of benefits to borrowing from family or friends. The potential to avoid paying high-interest rates, lack of financial requirements and ability to create a flexible timeline for repayment make this option appealing. However, make sure you put the agreement in writing with specifics on the term, interest rate and how payments will be made.
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