Program Name: Single family housing direct home loan
Organization: United States Department of Agriculture – Rural Development
Address: 2118 W. Part Court, Suite A, Champaign, IL 61821
Phone: 217-403-6200
Fax:
TDD:
Email:
Website: https://go.usa.gov/xzD6P
Briefly Describe the Purpose of the Program
Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability
Year Program Established:
Eligibility Requirements or Restrictions
At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt.

Rural areas with populations up to 20,000 or less.

Loans can cover up to 100 percent of the home’s market value, with terms of 33 – 38 years. Applicant may be eligible for payment assistance (subsidy) on the loan.

Application Deadline: Rolling bases
Application Guidelines:
Funding Cap Per Application or Fiscal Year Program Funding:
How Must Funds Be Used:
Loan funds may be used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities