Private Well Financial Assistance Program

for Very-Low Income Households

 

The United States Department of Agriculture Rural Development can provide loans to very-low-income homeowners to repair, improve or modernize their homes, as well as to remove health and safety hazards. Grants to remove health and safety hazards are also available to very-low-income homeowners age 62 or older. Eligible projects include the repair or replacement of wells, pump systems and water treatment systems to address water supply issues or water quality issues.

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To qualify, you must:

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 Be the homeowner and occupy the house.

 Be unable to obtain affordable credit elsewhere.

 Have a family income below 50 percent of the area median income.

 For grants, be age 62 or older and not be able to repay a repair loan.
 Loans cannot be made for homes in Concord, Derry, Dover, Hudson, Keene, Londonderry, Manchester, Merrimack,

    Nashua, Portsmouth, Rochester, Salem and parts of Goffstown and Hooksett, due to population density.

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How can I use the money?:

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 Loans may be used to repair, improve or modernize homes or to remove health and safety hazards.
 Grants must be used to remove health and safety hazards.
 Repair, replacement and/or installation of wells, pumping systems and water treatment systems are eligible projects.

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How much money can I get?:

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 Maximum loan is $20,000.
 Maximum grant is $7,500.
 Loans and grants can be combined for up to $27,500 in assistance.

 

What are the terms of the loan or grant?:

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 Loans can be repaid over 20 years.
 Loan interest rate is fixed at 1%.
 Full title service is required for loans of $7,500 or more
 Grants have a lifetime limit of $7,500.
 Grants must be repaid if the property is sold in less than 3 years.
 If applicants can repay part, but not all of the costs, applicants may be offered a loan and grant combination.
 The length of time for receiving funds varies based on a number of facts but can be within a matter of weeks.

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What are the terms of the loan or grant?:

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 One-on-one assistance with loan and grant applications is provided by the staff contacts listed below.
 Program website
 Pre-qualification Package
 Final Application Package

 

Staff Contact Information for New Hampshire: