Loans (US)
How to apply for the Single Family Housing Guaranteed Loan Program?
Check out how the Single Family Housing Guaranteed Loan Program application works and what you must do to access this program.
Access approved lenders on the USDA Rural Development’s network
Now, you will learn how to apply for the Single Family Housing Guaranteed Loan Program. But before that, let us review some basic points about the program.
This program assists approved lenders, which will lend money to eligible homebuyers in some rural areas.
Also, applicants can finance their soon-to-be property by 100%. Additionally, the program must meet specific eligibility requirements, as described below.
Furthermore, qualified applicants can purchase, build, repair, or relocate their properties in rural areas. However, the house or site must be their primary residence.
Take a look at the eligibility requirements we have detailed!
Online Single Family Housing Guaranteed Loan Program Application Process
Firstly, let’s review the eligibility requirements.
Applicants must be U.S. Citizens or qualified aliens. Also, they need to agree to occupy the site or property as a primary residence.
Furthermore, applicants must meet income eligibility, which is a maximum of 115% of the average household income.
In addition, it is crucial to understand that the loan is 100% financing. Lastly, the rural area needs to be eligible according to the USDA’s Eligibility Site.
Nonetheless, applicants must be alert of other requirements, as follows:
- Funds must be used to purchase, repair, relocate, or build a property as a primary residence, no matter if a new or existing property or site;
- Funds can be used for refinancing;
- Funds can be used to prepare costs and essential household equipment purchases.
Qualifying for a loan through the program is quite easy. Basically, you need to access the USDA Rural Development’s network to find out the approved and active lenders.
Then, contact them to initiate the process.
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General questions
Furthermore, for general questions or any further doubt, you can call 800-414-1226 (Customer Service Center).
Recommendation: Food Distribution Program on Indian Reservations (FDPIR)
As mentioned in this Single Family Housing Guaranteed Loan Program application post, the program guarantees 100% financing for eligible applicants in eligible rural areas.
Also, it allows homebuyers to access affordable loans to purchase, build, repair, or even relocate their sites or properties as primary residences.
Furthermore, approved lenders offer a 30-year fixed term with flexible rates and conditions.
Generally, the government provides several programs for low and moderate-income.
Moreover, there are specific programs for those who live in vulnerability or far from cities.
One of those programs is the Food Distribution Program on Indian Reservations (FDPIR).
In sum, this program guarantees food distribution for Indigenous people who cannot access other federal assistance programs like the Supplemental Nutrition Assistance Program (SNAP).
Then, continue reading to find out how the Food Distribution Program on Indian Reservations (FDPIR) works, as well as its eligibility requirements.
How to apply for the FDPIR?
Check out how the Food Distribution Program on Indian Reservations (FDPIR) application works and what is necessary to apply for the benefit.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
Senior Editor
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