Program Information
USDA Section 502 Home Purchase Loan Assistance
Location
Telephone Numbers and Contact Information
Telephone 1:Telephone 2:
Telephone 3:
Fax:
Web Page: www.usda.gov
Program Details
Eligibility: See description.
Fees:
Intake Process: Call to get a pre-qualification form.
Service Area: Wake, Johnston, Wilson, Lee, Harnett, Green, Wayne, Martin, and Pitt counties
Program Description:
Federal agency offering "Section 502" loans for home purchase, with subsidized mortgage payments. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance. These payments are typically within 22 to 26 percent of an applicant's income. In addition, applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories. Elderly and disabled persons applying for the program may have incomes up to 80 percent of area median income (AMI).
This information is provided as is with no guarantee as to the accuracy of the information. Information is considered to be accurate as of the date of the last update, printed above. Resources for Seniors may not be held liable for misuse of this information.