Home Purchase/Mortgage Refinance Loans | United States Department Of Agriculture
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.
Categories
Data provided by
211 UWGC
Physical Address
486 Helton Street, Williamstown, KY 41097
Hours
mon 8:30am - 4:30pm;tue 8:30am - 4:30pm;wed 8:30am - 4:30pm;thu 8:30am - 4:30pm;fri 8:30am - 4:30pm
Voice
Voice
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
Federal Government Agency focused on ensure a safe, affordable, nutritious, and accessible food supply for America. Supports the production of agriculture, promotes rural and economic community development, and provides assistance and support for farmers.