Search results
Results from the WOW.Com Content Network
Section 502 loans are a rural housing loan program, administered by the Rural Housing Service (RHS), authorized under Section 502 of the Housing Act of 1949. Borrowers may obtain loans for purchasing or repairing new or existing single-family housing. Loans are made directly by RHS (7 CFR 3550) or by private lenders with a USDA guarantee (7 CFR ...
Also known as Section 502 Direct, USDA direct loans offer low-rate home loans to individuals in rural areas in need of adequate housing. Unlike USDA guaranteed loans, you’ll apply for a direct ...
A USDA Home Loan from the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, [1] is a mortgage loan offered to rural property owners by the United States Department of Agriculture, Rural Development.
Any area classified as "rural" or a "rural area" prior to October 1, 1990, and determined not to be "rural" or a "rural area" as a result of data received from or after the 1990, 2000, or 2010 decennial census, and any area deemed to be a "rural area" at any time during the period beginning January 1, 2000, and ending December 31, 2010, shall ...
USDA loans, also known as Section 502 mortgages, let buyers purchase homes with no down payment, reduced mortgage insurance rates and mortgage rates that are 0.25% below conventional rates ...
Ginnie Mae guarantees only securities backed by single-family and multifamily loans insured by government agencies, including the FHA, Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing, and the Department of Agriculture’s Rural Development. One of the newer mortgage types ...
The Rural Development Administration (RDA) was a USDA agency established by the 1990 farm bill (P.L. 101-624, Sec. 2302), amending the Consolidated Farm and Rural Development Act of 1972 (7 U.S.C. 1921 et seq.), to administer FmHA community and business programs and other USDA rural development programs.
Section 504 loans and grants are a USDA rural housing repair program authorized under Section 504 of the Housing Act of 1949. Under current regulations, rural homeowners with incomes of 50% or less of the area median may qualify for the Rural Housing Service (RHS) direct loans to repair their homes. Loans are limited to $20,000 and have a 20 ...