SINGLE FAMILY HOME OWNERSHIP DIRECT LOANS (SECTION 502)
US DEPARTMENT OF AGRICULTURE (USDA), RURAL DEVELOPMENT
Assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas.
Deadline to Apply
Families/individuals apply to Rural Development. Loan applications are processed on an individual basis for each participating family. 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 communities with populations of 10,000 or less.
Funding Potential for Award–Varies
Range of Awards–Up to $200,000 depending on the location of the home
Funding Cycle – Duration–Ongoing
Source of Funds–Federal
How to Apply–Apply with your local Rural Development Office.
Selection Criteria & Decision Authority–Individual families receive a direct home loan from Rural Development.
USDA Rural Development 502 Direct Loan
Frequently Asked Questions:
Please contact your local USDA Rural Development Office with questions.