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The Rural Housing Assistance (RHS) of the united states Department of Agriculture (USDA) sponsors home loans called Section 502 loans. Under Section 502, direct funds (i. e. from money appropriated by Congress) may be available to some low-income people. In addition Chicago Bears T-Shirts , those with total household income less that 115% of the median household income in the qualified rural area may obtain government guaranteed mortgages from qualified lenders.
The purpose of the program is described by the RHS as Follows:
The Section 502 Certain Rural Housing Loan Program was designed to serve rural residents who have a steady, low and modest income, and yet aren’t able to obtain adequate housing through conventional financing. These loans enable small and moderate-income rural residents to acquire modestly priced housing with regard to own use as a residence through the purchase of a new or existing dwelling or the purchase of a new manufactured home.
If your home is in a rural area or in the less developed portion of a metropolitan county, and your household income does not exceed the limit assigned for a area Chicago Bears Hoodie , you may qualify for a USDA guaranteed mortgage.