| Federal Program Description |
Direct and guaranteed loans to buy, build, or improve a permanent residence. Qualified dwellings must be modest, decent, safe, and sanitary. The property must be located in an eligible rural area. Applicants must have very low-, low- or moderate incomes. Very low-income is defined as below 50 percent of the area median income; low-income is between 50 and 80 percent; moderate income is below 115 percent. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance.
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