Low- and very low-income rural residents need opportunities for home ownership, but traditional mortgage financing is too often out of reach. The U.S. Department of Agriculture Rural Development (USDA RD) Single Family Direct Loan Program (502 direct loans) is an affordable alternative that provides subsidized mortgage loans for modest homes in rural areas. The applicants are generally first-time homebuyers. FRNO works with families to package their loan application and assess their credit to ensure that they are able to qualify for a 502 Loan. We submit their application to the Intermediary and USDA for loan eligibility.
See More – Single Family Housing Direct Home Loans