A state lending program that helps qualifying participants finance home modifications has increased the maximum loan amount available to eligible borrowers.

The new maximum loan amount for the Home Modification Loan Program (HMLP) has been raised from $30,000 to $50,000, the Community Economic Development Assistance Corp. (CEDAC) announced today. The change reflects the increases in construction costs across Massachusetts communities over the past 10 years.

“We are deeply committed to our participation in a program that is transformational for so many Massachusetts residents,” HMLP Project Manager Susan Gillam said in a statement. “This increase in loan amounts for eligible borrowers will help them to fully realize their projects and not forego essential modifications to accommodate their special needs due to budget concerns.”

The HMLP has made more than 2,700 loans and disbursed nearly $63 million since the program’s inception in 2000. CEDAC works in cooperation with the Massachusetts Rehabilitation Commission and the Department of Housing and Community Development to administer the program and six nonprofit regional Provider Agencies work directly with applicants on their projects.

Eligible borrowers may qualify for a 0 percent interest, deferred payment loan. The loan does not require monthly payments. Full repayment is required when the property is sold or has its title transferred.