|
|
Direct Program
The Direct Program offers individuals
with low or very low income the opportunity to purchase or repair their home at
affordable monthly payments.
Purchase Program
Rural Development's Purchase Program
offers low income individuals the opportunity to maximize their loan potential
by offering subsidized interest rates as low as 1% and a loan term of 33 years.
Loan funds can be used to build or purchase existing homes in rural areas.
Click
here for more information.
Repair program
Rural Developments Repair Program
offers very low income individuals an interest rate as low as 1%. Loan funds
can be used to improve, modernize, remove health & safety hazards, and remodel
for handicap accessibility. Grant funds are limited and available to very low
income individuals who are 62 years or older and have no repayment ability
(other restrictions may apply.) Click here
for more information.
|
Eligibility
Criteria
-
Does not currently own
adequate housing.
-
Unable to obtain financing
from conventional lenders.
-
U.S. Citizen or qualified
alien status.
-
Occupy dwelling as primary
residence.
-
Adequate dependable income.
-
Acceptable credit history.
-
Show adequate repayment
ability.
-
Must have adjusted
household income that does not exceed low income limits established
for county.
-
Must have legal capacity to
incur the loan obligation.
-
Other restrictions may
apply.
|
Property
Requirements
-
Structurally and
functionally adequate, in good repair.
-
Market value must not
exceed area loan limit for county.
-
Must be located in the
designated Rural Areas.
-
On-site water, sewage
systems that comply with zoning and state/health standards.
-
Prohibited features
include: Income producing property, farm structures, in-ground
pools, manufactured homes, excess acreage, value of property must
not exceeds 30%.
-
Other restrictions may
apply for:
|
|
How to apply
(Click each link for more information)
Check the Income
Limit Guidelines
Contact your local Area Office
Submit a Prequalification
Property Eligibility Web site
|
Other
Services
(The lists provided below are not endorsements by Rural Development.)
Homeownership
Education Providers
Don't have Excel? Click here
to download the viewer. (3.8MB)
(486 or higher, Windows 95/NT, 8MB memory for 95/16MB for
NT, 7MB hard drive space, VGA or higher, and mouse required)
Click here for our
manufactured housing dealer directory.
|
|
