Are you a Rural homebuyer or household? Do you know of someone who is? Then listen up for information about mortgage financing.
The U.S. Rural Housing Service’s Sec. 502 loan program makes loans directly to low- and very-low-income households with a zero-down, 1% financing term. Through Sec. 502, direct loans are being extended for these low-income homebuyers and households living outside of the population centers who have been unable to find financing from otherwise conventional lenders.
There are several qualifying requirements to receiving the loan and these are spelled out on the agency’s website. You can also call them for more information. In Mississippi call 601-965-4316. The office is located in the Federal Building suite 831, 100 West Capitol Street in Jackson MS 38269. For other states click here for a link.
Homebuyers who qualify can apply any time throughout the year for the loan. More information can be obtained from the agency’s website
*Disclaimer: I am not a mortgage professional and make no claim to be one. I do not make any recommendations for using any particular mortgage product. If you need information about mortgages please contact your local bank or other mortgage authority. The information in this article was obtained from www.rd.usda.gov and is for information purposes only.
Eileen Saunders, REALTOR~Tommy Morgan REALTORS~2092 Old Taylor Road, Oxford, MS 38655~662-404-0816 or 662-234-5344~Equal Housing