The Section 502 Guaranteed Loan Program helps licenced lenders provide low- and middle-income households with appropriate, modest, decent, safe, and hygienic housing as their primary residence in suitable rural areas.
All eligible applicants are free to purchase, construct, rehabilitate, improve or relocate housing in the eligible rural area with 100% funding. The program offers a 90% loan note guarantee to approved lenders to reduce the risk of 100% lending to eligible rural home buyers, so no money is lost for all who qualify!
How to Apply for Single-family housing guaranteed loan program application?
All interested applicants can apply for a Section 502 Guaranteed Loan or Single-family housing guaranteed loan program application through USDA Rural Development’s network of approved lenders.
These approved lenders are your point of contact for any questions or scenarios you may wish to review for potential eligibility.
This list of active lenders is searchable by state and the SFHGLP team makes every effort to keep it up to date.
If you need a single close construction-to-permanent loan, this list includes the current participating lenders for that program.
Note That: USDA Rural Development does not support any specific private-sector lenders. We encourage you to compare lenders to find the best service and financial option available. The approved lender chosen by you will handle the entire loan application process, working with the rural development staff to ensure that your loan is guaranteed through the agency.
Who is Eligible for this program?
- Must meet income eligibility (cannot exceed 115% of average household income)
- The individual agrees to occupy the residence as his primary residence.
- Must be a US citizen and US non-citizen national or eligible foreigner.
- Apply for Wheel trans application online (PDF Form Download)
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- Apply for ACPBenefit.org Application online form