US Department of Agriculture

Housing Preservation and Revitalization Demonstration Loans and Grants

This program restructures loans for existing Rural Rental Housing and Off-Farm Labor Housing projects to help improve and preserve the availability of safe affordable rental housing for low income residents.

Funds may be used for the following:

Preserve and improve existing Rural Rental Housing and Off-Farm Labor Housing projects in order to extend their affordable use without displacing tenants through increased rents
A third-party Capital Needs Assessment (CNA) will help identify project needs.

Maximum Award Amount

Terms for the loans include one percent fixed interest rate, 20-year maximum term, and an $11,000 maximum loan per household.

Cost Matching

10%

Eligible Applicants

Current multi-family housing project owners with Rural Rental Housing and Off-Farm Labor Housing loans. Borrowers must continue to provide affordable rental housing for 20 years or the remaining term of any USDA loan, whichever is later.

Find Out More and Apply