The Rural Housing Assistance Act increases the dollar limits for federal loans and grants that help low-income rural homeowners repair their homes. Specifically, the bill raises the maximum loan amount per household from an unspecified previous limit to $80,000, increases the maximum grant amount to $20,000, and sets a combined cap of $100,000 per household for a single dwelling. The legislation also doubles the maximum individual grant from $7,500 to $15,000. These changes affect rural families and individuals who depend on the federal Section 504 Rural Housing Repair Loan and Grant Program, administered under the Housing Act of 1949, to afford essential home repairs. The bill does not specify new funding amounts or implementation timelines, instead modifying the existing program's loan and grant caps to help more homeowners address critical housing conditions in rural areas.
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