A USDA rural housing repair program authorized under Section 504 of the Housing Act of 1949. Under current regulations, rural homeowners with incomes of 50% or less of the area median may qualify for the Rural Housing Service direct loans to repair their homes. Loans are limited to $15,000 and have a 20-year term at a 1% interest rate. Owners of age 62 or more may qualify for grants of up to $5,000 to pay for needed repairs. To qualify for the grants, the elderly must lack the ability to repay the full cost of the repairs. Depending on the cost of the repairs and the income of the homeowner, the owner may be eligible for a grant for the full cost of the repairs or for some combination of a loan and a grant to covers repair costs. The combination loan and grant may total no more than $15,000.