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RHS - Rural Housing Site Loans
Rural Housing Site Loans
Rural Housing Site Loans are short term loans to finance development costs of subdivisions located in communities with a population of 10,000 or less (selected communities with a population between 10,000 and 20,000 are also eligible). Developed lots are to be sold to families with low to moderate household income (up to 115% of the county median income) using either Section 502 financing or credit from other sources. Section 523 Site Loans are restricted to buyers for housing to be built
under the Self-Help method of home construction. Section 524 Site Loans are not limited to self-help program buyers.