Home Modification - funding options
Home Modification — Funding Sources
Division of Specialized Care for Children (DSCC) Available to eligible patients under 21 years old, this agency serves children with certain chronic physical disabilities and health impairments. Administered by the University of Illinois, it serves children statewide through 13 regional offices. Call the main number at (312) 996-7775.
Federal Housing Administration (FHA) Two loan guarantee programs from the Federal Housing Administration, Title 1 and 203K loans, have loan size limits. The FHA programs can provide direct loans with below market interest rates (to 1%), higher than normal debt ratio (to 1%), extended terms (to 33 years), low down payments or financed closing costs. These loans can be used for acquisition or rehabilitation. The 203K program will also loan up to 80% of the repaired value of the home, making it useful for a household that chooses to move and make accessibility improvements in the new home. For details, call 312-866-2729.
Home Improvement Structural Alterations (HISA) This program is administered by the HISA Department of the Veteran's Hospitals. Eligibility requires that the veteran has been hospitalized at a Veteran's Hospital within 1 year of the application date and that the accessibility modifications or equipment requested be deemed medically necessary. If the disability is non-service related, the VA may grant up to $1,200 for accessibility improvements. If the disability is service related, they may grant up to $4,100 for installation construction costs and the prosthetics department of the VA may donate lifting equipment such as chairlifts or vertical porch lifts. Call 1-800-827-1000 to speak with a Benefits Counselor.
Landlords
A good tenant is hard to find, and a good landlord knows that. The Fair Housing Act of 1968 stated that tenants have the right to make reasonable modifications to their apartments . . . accessibility modifications are considered reasonable. Accessible rental units are assets not liabilities. The wise landlord may welcome the opportunity to have such a unit not only for today but for tomorrow. Seeking financial assistance from the landlord may prove to be well worth it.
Plan For Achieving Self-Support (PASS) The Supplemental Security Income (SSI) under this program allows recipients to set aside income and resources towards an approved plan for achieving self-support without jeopardizing benefits. This plan will cover modifications to a home through an SSI savings plan. Additional information is available through local Social Security Administration offices. For details, call 800-772-1213.
Push America In addition to the numerous projects and programs Push America has that benefit people with disabilities and the members of Pi Kappa Phi, are grants that provide scholarships, additional funding and rewards for service. In one of their programs, Accessability, volunteers build wheelchair ramps for people in low and moderate income areas. In staying true to their mission, Push America is dedicated to leadership, service and making a difference in the lives of people with disabilities. For more information call the director of team services, Rob Kelly, at 704-504-2400 x 128.
Rebuilding Together (formerly Christmas in April) The nation's largest volunteer housing rehabilitation organization and the only national-level organization that focuses exclusively on the home repair and improvement needs of lower-income homeowners, Rebuilding Together is uniquely qualified and poised to deliver home modification services across the country. A certain area is selected, and 90% of modifications are done the last Saturday in April. Contact the affiliate in your area to learn about upcoming work days. 1800-4REHAB9
Fannie Mae Foundation This non for profit foundation creates affordable housing programs supporting homeownership and rental housing. 312-368-8801
Fraternal Clubs
Organizations such as Knights of Columbus or Kiwanis may have in their annual budgets assistance for the disabled.
Local Chapters of Disability Organizations
These informational resources may make grants to individuals and families who demonstrate financial need if funds are available. Contacting the Multiple Sclerosis Society, United Cerebral Palsy, National Easter Seals, etc., may be worth the try.
Special Gift Funds
The Department of Social Services at some of the hospitals may be aware of in-hospital grants that may be available to those qualified. Well worth asking about.
Equity Financing
The following are some avenues for undertaking major accessibility projects refinancing, second mortgages, reverse mortgages, home equity loans or lines of credit, unsecured loan (cash advances on credit cards), and remodeler financing.
Townships/Villages
Townships serving many local villages often times have a Disabilities Coordinator. On occasion, grants are in place with funds available for home accessibility modifications.
FYI: Income Tax Deductions
Many people can take advantage of income tax deductions under the federal tax code. To do so, the cost of the modifications must be treated as a medical deduction and be itemized and shown as an expense on federal tax form 1040 "Schedule A". In order for home modifications or equipment to be treated as a tax deduction, they must be certified by a physician as being required for health reasons. For a renter, the cost of accessibility modifications becomes a deduction from taxable income. Homeowners can also deduct modifications cost from income but need to account for any increase in the value of the home. A written opinion from a competent real estate appraiser specifying how much and why the home's value has increased is necessary and an experienced accountant should be contacted.
info provided from
The Council for Disability Rights
Advancing rights and enhancing lives of people with disabilities
http://www.disabilityrights.org/mod3.htm
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