You can get $10,000 in free money to ‘improve’ your home with no strings attached – see if you’re eligible

AMERICANS can get as much as $10,000 to update their homes with no strings attached.

Home improvements can be extremely costly, causing homeowners to put them off until they can afford to fix it.

This could lead to problems piling up or getting worse and becoming even more expensive to repair.

The same goes for updating old appliances that are no longer energy efficient.

While the machine drives up the electric bill each month, replacing it with a more efficient model isn’t financially possible for some homeowners.

The US Department of Agriculture’s rural development branch is offering financial assistance to households facing these issues.

The Single Family Housing Repair loans and grants are also known as the Section 504 Home Repair program.

It provides grants to elderly “very low-income” homeowners to remove health and safety hazards.

“Helping people stay in their own home and keep it in good repair helps families and their communities,” according to the program’s website.

“Homeownership helps families and individuals build savings over time. It strengthens communities and helps many kinds of businesses that support the local economy.”

The program also offers loans to homeowners, but those must be paid back.

HOW TO CLAIM THE CASH

Applicants must be the homeowner and occupy the house, be able to obtain affordable credit elsewhere, have a household income that does not exceed the very low limit by county, and be 62 or older.

The home must also be in a rural area.

Homeowners can use the interactive map on the USDA’s website to type in their address and see if it is eligible for the program.

Grants have a lifetime limit of $10,000 and must be repaid if the property is sold in less than three years.

While this is a federal program, individual states and counties may have their own requirements to qualify for the funds.

Applications are open year-round, and homeowners should reach out to a state or area office-based USDA home loan specialist for help.

The money can be used to repair or improve furnaces, appliances, electrical foundations, roofing, plumbing, and more.

GET PAID TO BUILD YOUR HOME

Another financial assistance program is offering Americans $50,000 to build their own tiny home.

The Vermont program has a goal of creating more accessory dwelling units across the state.

The state has a $15million budget for the program as a way of solving the ongoing housing crisis.

Participants will be given up to $50,000 per unit for repairs needed to bring vacant rental units up to state code, and add new units to an existing building or create an ADU.

Landlords and homeowners must apply for the program based on local ordinances.

They must also match at least 20 percent of the grant funds and finish building within 18 months of starting the project.

A couple in California received $40,000 in a grant to build their own tiny home.

Plus, see a similar program offering $125,000 – but it comes with more restrictions.