USDA,RuralDevelopment.pptVIP

USDA, Rural Development Single Family Housing Quick overview of the Direct and Guaranteed Programs Rural Areas Only (yellow) Several Housing Programs Loans to Purchase a Home Section 502 “Direct” Loan Section 502 “Guaranteed” Loan Repairs to Homes Section 504 Loan (VL Income) Section 504 Grant (VL Income 62+ years old, to remove health/safety issues, prove cannot repay 1% loan) Section 502 “Direct” Loan Direct Program – Purchase loan “Direct” loans No down-payment (100% LTV) Made by USDA directly to homebuyer Low Income limits Example Hall County – Household of 4 - $48,150 Limite