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Are there any special programs for purchasing a home in rural areas?

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(@helen-olamide)
Posts: 2050
Illustrious Member Customer
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[#2631]

Are there any special programs for purchasing a home in rural areas?


 
Posted : 28/04/2024 4:25 pm
(@edwardadex233)
Posts: 1000
Noble Member
 

Yes, there are several programs for purchasing a home in rural areas 

USDA Guaranteed Loans: These loans are backed by the USDA and offered by USDA-approved lenders. They offer 100% financing for the purchase, build, rehabilitation, improvement or relocation of a primary residence in a rural area.

 USDA Direct Loans: These loans are funded by the USDA and processed by your local Rural Development office. They are meant to help low- to very-low-income borrowers obtain an affordable mortgage when otherwise unable to secure financing for a safe and sanitary house.

USDA Repair and Rehabilitation Loans: These loans provide money to low-income homeowners so they can repair or improve their home by removing health, safety or sanitation hazards.

USDA Rural Housing Site Loans: These loans are available to private and public non-profit organizations to assist them in purchasing a site and developing housing for low- or median-income families in rural areas.


 
Posted : 30/04/2024 5:28 pm
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