Guaranteed Homeownership Loan Program
Provides loans in rural areas that assist moderate to low income applicants
to purchase, construct, repair or rehabilitate, or relocate a single family
home. Loans are made by approved lenders with USDA Rural Development
issuing a guarantee on the loan. Funds for repairs can only be included
with the purchase of an existing home.
- Eligible applicants include individuals or families, who do not
presently own adequate housing.
- Applicants must have an income that is below the moderate-income limit for
- Applicants must be unable to obtain conventional credit at reasonable
rates and terms, must have adequate repayment ability and must have an
acceptable credit history.
- Credit scores of 680 or greater are typically considered as acceptable.
Credit scores below 680 may also be considered but may require additional
Loan Terms and Conditions:
- Loans carry a 30 year term at a fixed interest rate.
- The loan amount may be up to 100 percent of the market value of the home
and can include typical closing costs (not to exceed the appraised value).
- There are no cost or loan limitations for this program.
- Homes must be located in rural areas. All communities in Nebraska are eligible for housing programs with the exceptions of Fremont, Grand Island, Hastings, Kearney, Lincoln, North Platte, Omaha, and South Sioux City/Dakota City.
Are you eligible?
Guaranteed Homeownership Loan Fact Sheet
Rural Development Guaranteed Housing Information
Apply with Approved Mortgage Lenders