Single Family Housing Guaranteed Loans
The Guaranteed Rural Housing (GRH) loan program provides moderate income families with access to affordable home ownership in eligible rural areas. Approved GRH lenders provide home purchase financing requiring no down payment and can finance loan closing costs and repairs up to the property's appraised value.
Applying | RHS Quick Links |
Program Links | Bilingual Lenders
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- have adequate and dependable income.
- be a U.S. citizen or be legally admitted to the U.S. for permanent residence.
- have an adjusted annual household income that does not exceed the moderate income limits for the area.
- demonstrate adequate repayment ability (i.e. 29% principal, taxes, insurance and interest; 41% total debt ratio). Repayment ratio acceptability is determined by the approved lender.
Property must be:
- a new or existing stick built or modular home meeting HUD guidelines.
- a new manufactured home on permanent foundation.
- owner occupied and not income producing.
- located in an eligible rural area or community.
30-year fixed rate mortgage.
Negotiated between the approved lender and the applicant.
Applicants must have a credit history that indicates a reasonable willingness to meet obligations as they become due. Credit acceptability is determined by the approved lender.
Fees: A one-time upfront guarantee fee is charged to the
lender and typically passed onto the applicant. Guaranteed loans are
subject to payment of an annual fee. Lenders may charge normal and
customary fees for their services.
RHS Quick Links:
Contact a local office
to locate an approved lender near you or call 715-345-7623 for more information.
for more information.