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Buy or renovate your home throught a loan with special conditions

Single Family Housing Guaranteed Loan Program, guarantee quality housing to poor rural families

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Historically, poor families have always faced major problems in accessing credit services. Thus, dreams such as renovating, buying or building your own house have become unattainable. However, through the Single Family Housing Guaranteed Loan Program, the federal government has been gradually changing this reality. With the help of this program, poor Ruari families now have the federal government as a “guarantor” for their loans. Thus, they get a loan with great conditions and interest rates.

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Here are four reasons why the Single Family Housing Guaranteed Loan Program has forever changed the lives of rural families in need.

This program allows loans for the purchase of real estate, renovations, construction and much more;
It is available to residents of rural areas in all states of the country;
Simple criteria to meet;
There is no maximum number of families that can be served.

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This program cannot be used for the acquisition, renovation or construction of real estate in any part of the country. Only properties in rural areas may be eligible for this program. However, even if the property you want to buy, build or renovate is in an area defined as rural, you still need to certify that this area is covered by the Single Family Housing Guaranteed Loan Program. To have this information, you must access the official website of the US Department of Agriculture.

Every state in the country has lenders qualified to offer loans under the conditions defined by the Single Family Housing Guaranteed Loan Program. In all, there are more than 6,300 creditors spread across the country. For example, in the state of Alabama alone there are approximately 250 lenders qualified for this program. To find out which lenders can offer this service in your area, you must go to the official website of the US Department of Agriculture. There, you can find an updated and complete list.

There is no maximum limit for loans granted by the Single Family Housing Guaranteed Loan Program. The definition of a maximum amount will be up to the creditor who will formalize the loan. In most cases, loans will be 100% covered by the federal government and can be repaid in easy installments over up to 30 years.

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