How to Pay for your Safe Room
Low cost safe room financing through Oklahoma Central Credit Union is available for all of Remagen’s residential shelters. Rates as low as 0.99% APR, no money down, and no prepayment penalties makes this financing offer a great option for those wanting to protect their family from nature’s most severe weather threats. Please contact us by filling out the contact form at the bottom of the page or by calling (888-397-7142) for information on how to apply.
Through your Mortgage:
The Department of Housing and Urban Development (HUD) and the Federal Housing Authority (FHA) encourage and facilitate the purchase of in-home storm safe rooms by permitting builders, homeowners and persons borrowing to build, remodel or purchase homes to obtain FHA-guaranteed loans (FHA 203(b) insured loans) for that purpose. Construction of the storm safe room may be the sole improvement. These loans are available from local lenders as mortgage loans for home purchase or improvement.
Authority: HUD Mortgagee Letter 00-04 – Click here to see the Mortgagee Letters. Note: shelter cost limits have been increased since 2000. Safe Room Requirements: To be eligible for FHA loans, safe rooms must meet the requirements of FEMA Publication 320, Performance Criteria for Tornado Shelters or the National Storm Shelter Association Standard for the Design, Construction, and Performance of Storm Shelters. (https://www.nssa.cc/).
Community Shelter Options
There are several grant programs in place to help municipalities and their departments (government agencies, county hospitals or schools, etc.) fund the construction of a new or retrofit community safe room. One of the most popular programs is FEMA’s Hazard Mitigation Grant Program (HMGP). If your project qualifies, Remagen can provide grant writing assistance.
Hazard Mitigation Grant Program (HMGP) FAQs
Hazard Mitigation Grant Guidance