Loan funds can be used to finance the removal of health and safety hazards or for general improvement and modernization of the dwelling. If a homeowner can afford a repair loan as outlined above, they are not eligible for a grant. The units must be rented to moderate, low or very-low income households. Applicants must assure there is a need for the type of project being proposed. Qualified lenders are authorized to originate, underwrite, and close loans to eligible borrowers to construct new multi-family housing projects.
Income is certified upon initial occupancy only.
Depending on availability and need, RA is provided to projects financed under the above mentioned Rural Rental Housing Direct Program. Construction work is completed on homes by an exchange of labor with one another. Financing for the materials and skilled labor which needs to be hired is generally through the agency's direct SFH loan program. Eligible applicants are public and private non-profit groups. A need for the proposed lots must be shown.