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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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
Potential applicants are encouraged to contact the office to complete an informal prequalification process prior to applying.
Fee
Loans must be repaid with a fixed interest rate over a 33 year period.
Eligibility
- Be without decent, safe, and sanitary housing
- Be unable to obtain a loan elsewhere
- Agree to occupy the property as their primary residence
- Have a household income that does not exceed the Eligibility Limit for their county
Properties financed with loan funds must be located within an eligible rural area. Location eligibility can be checked using the USDA Eligibility Site.
Service area
Campbell County, Kentucky Kenton County, Kentucky Grant County, Kentucky Boone 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.