Rental Housing for Families and Elderly
(515/538)

Objective
Safe, well-built, affordable rental housing for rural Americans.

Applicant
Individuals, profit and non-profit organizations. For guarantees, apply to intermediary; for direct, apply to RD.

Uses
New construction or substantial rehabilitation of rental housing.

Population
Rural areas and populations of 20,000 or less.

Loan/Grant
Direct loan or loan guarantee

Direct Loan Terms/Conditions
Up to 102% of total development cost (non-profits) ; 95/97% (for-profit). Up to 30-year term with up to 50 years amortization.

Guaranteed  Loan Terms/Conditions
Up to 90 of guarantee loan amount/97%  for non-profit; maximum 40-year term, minimum 25-year term, rate determined by lender.

Farm Labor Housing
(514 on-farm, 516 off-farm)

Objective
Safe, well-built affordable housing for farm workers.

Applicant
Farm owner, family farm partnership, family farm corporation, or association of farmers.

Uses
New construction or substantial rehabilitation of farm labor housing.

Population
Rural areas and populations of 20,000 or less.

Loan/Grant
Direct loan available to non-profit entity.

Terms/Conditions
Up to 100% of total development cost - 33 years at 1% interest.