Section 502 Land Loans

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Public / Nonprofit Partnership Creates Permanent Program with. – The USDA 502 Direct Loan has been the cornerstone of affordable housing financing for decades, helping low- and very low-income people and families in rural areas acquire safe, quality housing at a rate they can afford.

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USDA Homeownership Direct Loan Program (Section 502) – The Section 502 direct loan program offers mortgages for low-income homebuyers in rural areas. Section 502 direct is operated by the U.S. Department of.

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PDF USDA RD Section 502 Program – ruralhome.org – Purpose of Section 502 direct loans lowand very lowincome people the opportunity to own adequate, modest, decent, safe and sanitary homes in rural areas; Loans may be used to buy or build rural homes national average income Served: $29,512

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US Department of Agriculture Rural Housing | GovHomeLoans – Loans may be made for the purchase of an existing home or to build a new house. Loan funds may also be used to repair or renovate a house being purchased through our program. The standard term for a Section 502 loan is 33 years, but 38- year loans are available to those who cannot afford a 33- year loan.