NEVADA

Single-Family Housing Direct Loan
(SFH 502 Loan)

Purpose: What is the Program's Goal?
To make it possible for low income people to buy a modest home or build their own home through the mutual self-help program.

Program Type: How does it work?
USDA Rural Development makes loans to home-buyers.

Eligible Applicants: Who can apply?
Low and very low income individuals.

Eligible Areas:
Unincorporated rural areas, cities, and towns with populations of 20,000 or less.

Authorized Purposes: What can funds be used for?
Repairs on new or existing homes. 100% financing -- No down payment required.

Typical Amount of Assistance:
$80,000-$120,000. Up to 100% of the market value of the home.

Rates & Terms (rates subject to change):
1-8% depending upon family income; total mortgage cost lower for self-help participants.

Key to Success:
Applicants must have good credit and stable income adequate to repay the loan. Self-help program available.

When to Apply:
Year-round

Who to Contact:
The USDA Rural Development Office nearest you.

View Rural Eligibility and/or Income Limits

Back to Home Ownership Loans

USDA Rural Development National Web Site