Rural Housing Site Loan Program
Provides loans in rural areas to purchase land and develop sites, including
the construction of essential streets, utility lines, etc, which will be sold on
a non-profit basis to very-low, low and moderate income households.
- Eligible applicants are public or private non-profits.
Loan Terms and Conditions:
- Loans are for a two year term at the Agency's current rate of interest..
- A deed of trust is required.
- A need for the proposed lots must be shown.
- Lots can only be sold to very-low, low and moderate income households.
- The interest rate is the full note single family housing rate, however
for lots developed solely for the borrowers involved in the Self-help
Technical Assistance Grant program the interest rate is three percent..
- Eligible areas are rural communities with a population of 20,000 or less, and the communities of
Columbus and Norfolk.