Premier Darrell Dexter says the province will give another $1 million annually for the project beginning next year, bringing the total available funds to $5.9 million.
The Community Services Department's website says the funding is shared by the province and the federal government.
To be eligible, repair projects must address health and safety issues in the home, which can include roofing repairs, plumbing, heating and electrical.
The maximum grant for home repairs is $6,500 and applicants must be at least 65 years old.
Dexter says the additional funding will help more seniors stay in their homes longer.
"Seniors want to stay in their homes and live independently, and with dignity, in their communities as long as they can," said Dexter in a statement on Tuesday.
"This investment will help them do that. Seniors should not have to leave their homes before they are ready."
A news release says the program has helped more than 900 senior households.