To assist low and moderate income applicants to purchase new or
existing houses. This made possible by the guarantee of loans made
by approved conventional lenders.
Does not current own adequate housing.
Unable to secure credit without a guarantee.
Must be a U.S citizen or have qualified
Must personally occupy the dwelling as
Must have adequate and dependable income
sufficient to meet all obligations.
Must have an acceptable credit history.
Must show adequate repayment ability for the
PITI no more than 29% of gross monthly
income and TD 41%.
Must have adjusted household income that
does not exceed the
established for the county.
Must have legal capacity to incur the loan
Purchase a new or existing single family
Purchase a new construction must comply with
applicable building codes.
Closing costs, guarantee fee, legal fees,
title services, establishing escrow account and other prepaid
closing costs may be included in the total loan if it does not
exceed the appraised value plus the guarantee fee. There is no
limit on seller contributions to closing costs unless set by the
Existing homes must be
structurally sound, functionally adequate and in good repair.
homes or mobile homes, income producing property and properties
with in-ground swimming pools prohibited.
No restrictions on the
size or design of the home.
Homes must be located
in a rural area.
On site water and
sewage systems must comply with local zoning and state
Value of site is not to
exceed 30% of appraised value.
Terms and Fees:
How to apply:
RHS Eligibility Site
Historical Fannie Mae Rates
Approved Dealer Contractors
Origination and closing documentation
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