Financing Options for Home Improvements for Persons with Disabilities | For persons with disabilities, there are some financing options available to help make the home more accommodating for them. Specifically, several disability grants exist that may cover certain expenses when adding features that make the home more accessible and safer. Over time, disability home remodeling costs can reach tens of thousands of dollars, but grants can prevent these costs from overwhelming homeowners.
The following are some of the disability grants that households with disabled residents may be able to receive.
Specially Adapted Housing (SAH) Grants
From the Department of Veterans Affairs (VA), the Specially Adapted Housing grant is intended to help veterans affected by a variety of service-related disabilities, which could include blindness, amputations, and other catastrophic injuries. If these individuals wish to build a uniquely adapted home on property they plan on purchasing in the future, this grant can provide the necessary funds. Additionally, the grant can help cover the costs of building a specially adapted home on land the person currently owns, along with remodeling an existing home.
Special Housing Adaptation (SHA) Grants
The VA also offers a Special Housing Adaptation grant that covers other specialty housing assistance. Using this grant, veterans may be able to adapt their current home or a family member’s home where the veteran lives. In addition, the grant can help cover the adaptation of a home that either the veteran or family member will buy, and where the veteran will reside.
Veterans can also use the SHA grant when purchasing a home that’s already undergone the necessary modifications.
Rural Housing Repair Grant Program
The U.S. Department of Agriculture (USDA) has developed the rural housing repair grant program to assist low-income and older residents who may or may not be on disability. The grant provides financial assistance to repair or improve homes to make them safer, which could entail adapting the home with safety and accessibility features for disabled residents.
Individuals can qualify for these loans if they’re 62 or older, own the residence in question, are low-income, live within a rural area, and are otherwise unable to secure credit. The maximum amount of the grant fund is $7,500, while the loan maximum is $20,000.
FHA 203(k) Loans
Federal Housing Administration (FHA) 203(k) loans are used to help disabled individuals and others buy or renovate existing homes. The loan helps cover the cost of the home itself along with the necessary repairs or modifications.
Homeowners may qualify for a 203(k) loan if they require modifications or repairs of at least $5,000. The adaptive improvements for the home that this loan can cover may include grab bars and ramp installations, but it can also cover more extensive repairs such as demolitions and complete rebuilds.
Rebuilding Together is an organization that is responsible for building and repairing more than 10,000 homes in a year across 39 states. The organization, along with Americorps, can help construct and modify homes to optimize comfortability, accessibility, and safety for disabled individuals and their families.
The Think Alive Achievement Grant
For younger disabled persons under 21, the Think Alive Achievement Grant program is available to provide financial assistance. In addition to creating a comfortable and accessible home, recipients of these funds can use them to pay for courses, travel, and other expenses that contribute to a particular goal. If they want to spend more time outside of the home to complete certain tasks, for example, they could use these funds to install a ramp.
All of these disability grants can help disabled individuals achieve their goals and live both conveniently and comfortably. Regardless of a person’s circumstances, financial aid is available to adapt houses and create a space that works for all of the residents of the home.