Usda Section 502 Guaranteed Rural Housing Loan Program

Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers. Who may apply for this program? Applicants must: Meet income-eligibility

Under the Section 502 Guaranteed Rural Housing Loan Program the government guarantees mortgage loans made by commercial lenders, enabling low- and moderate-income rural residents to purchase modestly priced homes. Purpose The Section 502 Guaranteed Rural Housing Loan Program is designed to serve rural residents

There’s an easy way to find out whether the property you are considering buying is eligible: Visit eligibility.sc.egov.usda.gov and enter the address. Under the Rural Housing Service Section 502.

USDA 502 Guaranteed Rural Housing Loan Program, the USDA Home loan program offers individuals and families a zero-down payment home loan.