Single Family Home Ownership Direct Loan:

PURPOSE

The Single Family Home Ownership Direct Loan Program provides home loans to qualified applicants for the purpose of purchasing safe, affordable homes.

ELIGIBILITY

Families in very-low & low income (80% of Median Household Income) areas

FUND USE

Improve primary residence for rural homeowners

Buy or build primary residence for rural homeowners

Repair & rehabilitate primary residence for rural homeowners

RATES

Fixed interest rate

TERMS OF REPAYMENT

Loan amortized according to interest rates for 33 years

Payment assistance (subsidy) may be available for this loan to reduce the applicant’s monthly house note

MAXIMUM LIMITS

Loan amounts cannot exceed area loan limit

Up to 100% of market value or cost whichever is less

RESTRICTIONS

Rural areas, municipalities, towns, & cities maximum population – Less than 25,000

APPLY TODAY

To get started building your future today, contact your Rural Development Local Office to fill out a Single Family Home Ownership Loan Program Application to begin the approval process.