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Community Facilities
Housing
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.
Eligibility:
- 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.
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