USDA Financing Available to Purchase or Rehabilitate a Home.
USDA Rural Development is currently accepting applications for low-interest loans to assist individuals and families interested in purchasing or improving a home. Also known as the Section 502 Direct Loan Program, the Single Family Housing Direct Home Loan program assists low-income applicants with obtaining decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability.
The Section 504 Home Repair program, or Single Family Housing Repair Loans & Grants program, provides loans for low-income individuals to make essential home repairs or improvements and grants to homeowners over the age of 62.
More information can be found at www.rd.usda.gov/mn