Senior Home Repair Loans

This program provides a resource for Providence residents over 65 years of age to make needed home repairs.

Basic Program Eligibility
Your property is eligible if the following criteria are met:

• The property is owner occupied
• The owner does not qualify for other DPD sponsored home repair loans
• The needed repair/replacement is a safety code violation and is on the eligible repair list

Income Limits
This program is only available to families who are at or below 80% of the median income

Loan Amount
Minimum Loan Amount: $1,000
Maximum Loan Amount: $10,000

Loan Terms
This is a deferred loan program. There are no monthly payments; the loan is payable upon sale or transfer of the property. For seniors with household incomes at or below 60% of median income, there will be no interest charged on the loan. For seniors with household incomes above 60% of median income, a 3% interest rate charged on the loan.

Frequently Asked Questions
Am I guaranteed to have my loan application approved if I meet the basic eligibility and income requirements?

No. The program eligibility criteria and income limits are listed to give you an idea of whether this program is an option for you. In addition to those requirements, we also have loan underwriting guidelines that take your credit history, debt to income ratio and ability to repay the loan into account. Loan approval is also dependent on availability of funds.

What types of repairs can be made using this loan?

The repairs made using this loan must be to correct safety code violations. For a detailed list of eligible repairs, please review the eligible repair list.

If I received a home repair loan in the past, can I apply for another one for a different repair problem?

No. This program is limited to one approved loan per household. You may apply to other home repair programs when you can meet the program guidelines; however, you can only have two loans over time per property address.

Application Process
Instructions and forms on how to apply for an emergency home repair loan

Contact Us
For more information, please contact Barbara Barone
Verification Specialist:
Telephone: 401.351.4300 (extension 405)
Email: bbarone@providenceri.com