Section 502 Direct Loan

GPTKB entity

Statements (21)
Predicate Object
gptkbp:instanceOf gptkb:USDA_loan_program
gptkbp:administeredBy gptkb:United_States_Department_of_Agriculture
gptkbp:alsoKnownAs gptkb:Single_Family_Housing_Direct_Home_Loans
gptkbp:downPayment no down payment required
gptkbp:eligibility U.S. citizens or eligible non-citizens
low and very low income applicants
must be unable to obtain credit elsewhere
gptkbp:filingMethod up to 33 years
up to 38 years for very low income applicants
gptkbp:fundedBy site preparation
purchase of new or existing home
repair or renovate home
gptkbp:geographicRestriction rural areas
https://www.w3.org/2000/01/rdf-schema#label Section 502 Direct Loan
gptkbp:mainInterest may be as low as 1% with payment assistance
gptkbp:maximumLoanAmount based on applicant's repayment ability and area loan limits
gptkbp:purpose assist low-income individuals purchase homes in rural areas
gptkbp:targetUser direct loan
gptkbp:website https://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans
gptkbp:bfsParent gptkb:USDA_Home_Loan_Program
gptkbp:bfsLayer 6