"No-Month-Payment"-"No-Money-Down"
"No-Credit-or-Income-Qualification"
"Government-Guaranteed-Financing"
"Call 1-800-547.0747 to find out HOW "
PH. 1.972.722.8001* Fax: 1.877.810.7806 * 1.800.547.0747
452 Yacht Club Dr. * Rockwall,Texas 75032
Financing Lifts
Most residential lifts are paid out-of-pocket.
However, there are programs that make loans or provide services free of charge
(or at reduced rates) for eligible individuals. Examples include:
1.
Area Agency on Aging: Some Area Agencies on Aging use funds from the
Older Americans Act Title III to modify homes. To locate the Area Agency on
Aging in your community, call the Eldercare Locator at (800) 677-1116 or visit www.n4a.org.
2.
Banks and Lenders: Some banks offer
loans to finance home modification projects such as building ramps, installing
lifts, widening doors, or lowering cabinets. Banks and lending agencies also offer
reverse mortgages that allow homeowners to turn the value of their home into
cash. Contact the local banking and lending organizations for more information.
Free counseling on reverse mortgages is available from a HUD*-approved housing
counseling agency. Call (888)466-3487 for a referral. (*HUD - U.S. Department
of Housing and Urban Development.)
3.
Department of Housing and Community Development: Many cities and towns
use Community Development Block Grants (CDBG) to help maintain and upgrade
homes. Contact the local Department for more information. A listing of Housing
and Community Development Agencies can be found by visiting www.nahro.org/reference/internethousing.cfm or calling the
National Association of Housing and Redevelopment Officials at toll free (877)
866-2476.
4.
Federal Housing Administration (FHA): The FHA, which is
part of the U.S. Department of Housing and Urban Development (HUD), administers
mortgage insurance programs (e.g., Title 1 and Section 203(k)) that can help
homebuyers and homeowners secure loans to make home modifications. For more
information, contact the regional HUD field office listed in the telephone
directory, visit www.dtinational.org/training/hudinfo/hudoffices.asp or call (202)
708-1112. The local FHA-lender can be found by visiting www.hud.gov/ll/code/llplcrit.html.
5.
Health Insurance: Some private health
insurance and long term care insurance plans also pay for limited home
modifications. Check with your insurance provider.
6.
Internal Revenue Service (IRS): If the home
modifications meet certain conditions, they may be tax deductible. Part of the
expense of installing lifts may be deductible if they increase the resale value
of the property and have been prescribed as medically necessary. Consult a tax
professional and order a free copy of IRS Publication 502 for more information.
Contact the IRS by visiting www.irs.gov/pub/irs-pdf/p502.pdf or call (800)
829-3676.
7.
Rural Housing Services (RHS) Grants/Loans: Part of the U.S.
Department of Agriculture (USDA), the RHS offers various grants and loans for
rural, low-income elders. RHS Section 502 Home Ownership Loans may be used to
rehabilitate, repair, buy, build, or improve rural homes and related
facilities. RHS Section 504, the Very Low-Income Housing Repair Program,
provides loans and grants to very low-income persons 62 years and older to
repair, improve, or modernize their dwellings or to remove health or safety
hazards. To locate the local Rural Development area offices, visit www.rurdev.usda.gov/recd_map.html. To learn more about
the USDA Rural Housing Services programs, visit www.rurdev.usda.gov/rhs/Individual/ind_splash.htm or call
(530)792-5820, (530)792-5848 (TDD).
8.
State Assistive Technology Programs: Offer Loans/Grants
for people with disabilities and their family members. Visit www.homemods.org/pages/statefunding.html for your state
contact information
9.
Veterans Administration: The Veteran’s
Administration (VA) offers programs that pay for lifts. For more -information
contact the VA Office at 1-877-222-VETS or http://www.va.gov
