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Home Ownership Loans Purpose: What is the Program's Goal? To aid low-income and moderate-income rural residents with affordable home mortgages in order to purchase, construct, repair, or relocate a home and related facilities. Direct 502 Loans -- For low and very low-income families. Interest rate is dependent on rate in effect at time of loan; can be subsidized based upon income. Single-Family Housing Participation Loan The purpose of this loan program is to enhance the ability of mortgage lenders to make loans which allow low-income individuals to purchase modest homes. Guaranteed 502 Loans -- For moderate income families, available through approved lenders. No down payment required. Inquiries from realtors and lenders are welcome. Self-Help Housing -- To assist groups of 7-12 low-income families who work together to build each others' homes under the direction of a professional construction supervisor. Provides materials, site, and the skilled subcontractors the families cannot furnish. The families agree to work together until all homes are finished.   Home Improvement and Repair Rental Housing For more information contact the USDA Rural Development Office nearest you. Site Index Home | Housing | Business  |  Utilities  | Community Development Offices | Press Releases | Links | Contact Us  USDA Rural Development National Web Site Search  |  Accessibility Statement  |  Nondiscrimination Statement  | Privacy Statement  | Freedom of Information | Mediation