| Program Name: | Rural housing site loans | |
| Organization: | United States Department of Agriculture – Rural Development | |
| Address: | 2118 W. Part Court, Suite A, Champaign, IL 61821 | |
| Phone: | 217-403-6200 | |
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| TDD: | ||
| Email: | ||
| Website: | https://go.usa.gov/xzDFn | |
| Briefly Describe the Purpose of the Program | ||
| This revolving loan fund provides site loans for applicants below the moderate-income limit using conventional construction methods or the self-help housing method, in which families build each other’s homes. Conventional building sites can be developed and sold to low- and moderate-income applicants using USDA Rural Housing Service programs or any other mortgage financing program that serves those applicants below the moderate- income limit. | ||
| Year Program Established: | ||
| Eligibility Requirements or Restrictions | ||
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Conventional building sites: Private and public nonprofit organizations, and federally recognized Tribes Self-help method sites: Private and public nonprofit organizations solely dedicated to self-help housing, and federally recognized Tribes. Terms and Conditions: Self-help method loans are for 2 years at a 3 percent, fixed-interest rate. Conventional construction method loans are published monthly and fixed at closing. |
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| Application Deadline: Rolling bases | ||
| Application Guidelines: | ||
| Funding Cap Per Application or Fiscal Year Program Funding: | ||
| How Must Funds Be Used: | ||
USDA -Rural housing site loansadmin_iira2023-09-22T20:48:38-05:00