Service Name
USDA Rural Home Purchase Loan Programs
Eligibility
The family's income must be at or below 80% of the area median income (see website for a table with income guidelines) and the family have a credit score of at least 640, and their debt-to-income ratio cannot exceed 41%. This includes their future home payment. The family cannot own another house, and must be willing to work at least 35 hours per week on all the houses within their group.
Fees
$750 is needed upfront for a down payment. Contact for additional fees.
Address CountryCode
US
Service Hours
M - F 8 am - 5 pm; closed for lunch from 12 noon - 1 pm
Service Description
Income verification, Applicant must have a social security number or a TIN (tax income number).
Application/Referral Process
A pre-application must be filled out. Application is made and submitted online only.
Description
Program offered by the U.S. Department of Agriculture's Rural Housing Service that make home loans and loan guarantees available to rural families with an income below 80% of the median income level in the communities where they live who do not qualify for a conventional loan.
Service Point ID
20601
Operational Status
Operational
Telehealth
No