Home Purchase/mortgage Refinance Loans | United States Department Of Agriculture - Rural Development
Issues mortgage loan funds to assist low-income individuals or households with the purchase of a home in a rural area. Loan interest rates are fixed, and may be as low as 1% when modified by payment assistance. Loan funds can be used to purchase an existing home or build a new home. This program is also known as the Section 502 Direct Loan Program.
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Data provided by
211 UWGC
Physical Address
486 Helton Street, Williamstown, KY 41097
Hours
Monday:08:30-16:30;Tuesday:08:30-16:30;Wednesday:08:30-16:30;Thursday:08:30-16:30;Friday:08:30-16:30
Voice
Website
Application process
<p>Potential applicants are encouraged to contact the office to complete an informal prequalification process prior to applying.</p>
Fee
Loans must be repaid with a fixed interest rate over a 33 year period.
Eligibility
<ul> <li>Be without decent, safe, and sanitary housing</li> <li>Be unable to obtain a loan elsewhere</li> <li>Agree to occupy the property as their primary residence</li> <li>Have a household income that does not exceed the<a href="https://www.rd.usda.gov/sites/default/files/RD-DirectLimitMap.pdf" target="_blank" rel="noopener" class="underline text-blue-700"> Eligibility Limit</a> for their county</li> </ul> <p>Properties financed with loan funds must be located within an eligible rural area. Location eligibility can be checked using the <a href="https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do" target="_blank" rel="noopener" class="underline text-blue-700">USDA Eligibility Site</a>.
Service area
Boone County, Kentucky Grant County, Kentucky Kenton County, Kentucky Campbell County, Kentucky
Agency info
United States Department Of Agriculture - Rural Development
Office of the United States Department of Agriculture which runs programs intended to improve the economy and quality of life in rural parts of the United States.