SHPA Series: Space for Place

Historic Homes Funding

http://www.preservationnation.org/resources/find-funding/historic-homes-funding.html

For those restoring a historic house or other structure for their primary residence

Historic Home in Washington, DC

The National Trust for Historic Preservation can help you with your historic home.

The National Trust for Historic Preservation's How to Preserve Your Historic Home

Frequently Asked Questions can help get you started on the restoration of your home. In addition, several helpful publications, including The New Old House Starter Kit, are available from Preservation Books.

As always, your bank, your family, or your friends are the tried and true sources of money for renovating an old house. In addition, depending on where the home is located there could be tax incentives and assistance available at the federal, state and local level. To begin your search, contact your state historic preservation office (SHPO) and your statewide and local preservation organizations. An example of a local preservation organization that offers financial assistance to owners of historic homes is the Cleveland Restoration Society.

You may also find local financial assistance and tax incentives through your local preservation commission and through your local planning, community development, or housing offices.

A Mortgage Program Tailored for Rehabilitation

The Department of Housing and Urban Development's Federal Housing Administration (FHA) has a flexible loan program that helps developers, investors, and families at all income levels to buy and restore properties in urban and rural historic districts. The program operates through FHA approved lending institutions, and the loans are insured by FHA.

Preservation Easement Tax Incentives

A preservation easement is a legal right granted by the owner of a property to an organization or a governmental entity qualified under state law to accept such an easement. Preservation easements may provide the most effective legal tool for the protection of privately-owned historic properties while offering a tax benefit to the owner. To learn more, read the National Trust's Easements FAQ or contact your SHPO or statewide preservation organization.

Resident Curators

Some states have a resident curator program that allows an individual to live in and restore state owned historic properties. For example in Maryland, interested preservationists submit an application along with a restoration plan, and must be qualified to supervise and finance the restoration work. If approved, the resident curator can live in the historic property for the rest of his or her life in return for financing the restoration of the property. To see if your state offers a resident curator program, contact your SHPO.

Federal Financial Assistance for Rural Buildings

U.S. Department of Agriculture's Rural Housing Service offers funds for the acquisition, construction, repair or rehabilitation of homes and apartment-style housing for low and moderate-income residents in rural areas.

For more information on funding for historic homes, please contact the Resource Center of the National Trust for Historic Preservation.