Housing Programs -
Notice of Multi-Family Housing Notice of Funding Availability (NOFA)
Guaranteed Rural Housing * Link to GRH Lender Training here!
Eligibility Property Check
Multi-Family Housing
Ineligible Areas for Direct Housing Maps
Adjusted Income Limits
Detailed description of Rural Housing loans and grants
Contact persons for State Office and Area Offices
Map of Tennessee Area Office
Manufactured Housing
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Director, Don Harris, |
Rural Development efforts in providing affordable, quality housing are the responsibility of the Housing Programs. Home ownership has always been an important "American Dream", but for many rural residents this dream has not been realized due to economic conditions and a lack of affordable financing. The Housing Program is working daily to change this fact. |
HOME OWNERSHIP LOANS
These programs help low income and moderate income rural Tennesseans buy, build, or remodel a home through direct and guaranteed lending programs.
502 LOANS
These are subsidized, low interest loans which are provided to families with low to moderate incomes. Depending on income, house payments can be reduced through an adjustable interest rate, which
makes home affordable.
GUARANTEED 502 LOANS
These loans are for mostly moderate income families and require no down payment. Loans are provided by approved Commercial Lenders, with loan note guarantee provided by Rural Development.
HOME IMPROVEMENT & REPAIR
504 LOANS
Loans are made to qualifying very low income families to remove health and safety hazards. Families can borrow up to $20,000 at 1% interest.
HOUSING PRESERVATION GRANTS
Qualifying nonprofit organizations and local government entities can receive these grants to remodel and repair homes in eligible low income areas.
RENTAL HOUSING
RURAL RENTAL HOUSING LOANS
Provide financing for the construction of affordable rental units in rural areas.
RENTAL ASSISTANCE PROGRAMS
This program provides subsidized rent to low income individuals, families, and the elderly in rural rental complexes across
*ADJUSTED INCOME LIMITS
Single Family Housing Direct Loan and Grant Income Limits
*ADJUSTED INCOME LIMITS
Guaranteed Loans
Single Family Housing Guaranteed Loan Income Limits
RURAL HOUSING FINANCING PROGRAMS
PROGRAM |
OBJECTIVE |
APPLICANT |
USES |
POPULATION |
LOAN/ |
TERMS/ |
Single Family Home Ownership Loans |
Safe, well built, affordable homes for rural Americans |
Families and individuals apply to RD Area Office |
Buy, build, improve, repair or rehabilitate rural homes as the applicant's permanent residence |
Rural areas with populations 10,000 or less and MSA populations not to exceed 20,000 |
Direct loan |
Up to 100% of market value or cost, whichever is less. Loan amortized for 33 years. Applicant may be eligible for payment assistance (subsidy) on the loan. |
Single Family Home Repair Loans and Grants |
To help very-low income applicants remove health and safety hazards or repair their homes. |
Families and individuals who currently own their home apply to RD Area Office |
Loan and grant purposes include:winterizing, purchase or repair of heating system, structural repair, water/sewage connect fees, and similar uses. |
Rural areas with population 10,000 or less and MSA populations not to exceed 20,000 |
Direct Loan |
Terms to 20 years @ 1% assistance to individual may not exceed $20,000. Grants available to applicants 62 years or older with limited income Maximum grant is $7500. |
Self-Help Housing Loans |
Individual homes built by a group of applicants, with construction guidance of a non-profit organization |
Families and individuals apply to RD Area Office |
Loan applications are processed on an individual basis for each participating family. Loan for site, material and skilled labor |
Rural areas with populations 10,000 or less and MSA populations not to exceed 20,000 |
Direct Loan |
The individual families receive a direct loan. The non-profit housing organization gets grant to hire a supervisor and pay other administrative expenses. |
Single Family Home Ownership Loan Guarantees |
Assist eligible applicants in buying their homes by guaranteeing private lender's loans |
Families and individuals apply to intermediary |
Loans may be made to purchase new or existing homes that are modest in cost |
Rural areas with populations 10,000 or less and MSA populations not to exceed 20,000 |
Loan guarantee |
30 year, fixed rate. Interest negotiated between lender and borrower. Loans to 100 percent of market value. Fee is |
Rental Housing for Families and Elderly Direct Loans and Loan Guarantees |
Safe, well-built affordable rental housing for rural Americans |
Individuals, profit and non-profit organizations. For guarantees, apply to intermediary; for direct, apply to RD Area Office |
New construction or substantial rehabilitation of rental housing |
Rural areas and populations of 20,000 or less |
Direct loan or loan guarantee |
Up to 100% of market value (non_profits), 97% (for profit) |
Housing Preservation Grants |
Repair and rehabilitate housing owned or occupied by low income rural people |
Public bodies and non-profit corporations apply to RD Area Office |
Operate a program which finances the repair and rehabilitation activities |
Rural areas and populations of 20,000 or less |
Grant |
Grant Agreement Conditions |
Community Facilities Programs |
Provide essential community facilities for rural communities |
Public bodies and non-profit corps. Guaranteed apply to intermediary Direct and grant apply to RD Area Office |
Build facilities, equipment, operating costs. Fire and rescue. Telecommunications for schools, libraries, hospitals. Not for recreation activities. |
Rural areas and populations of 20,000 or less |
Direct loan or loan guarantee Grant. |
Up to 100% of market value. Up to 40 years or life of security. |
Farm Labor Housing |
Safe, well-built affordable rental housing for farm workers. |
Individuals, profit and non-profit organizations apply to RD Area Office |
New construction or substantial rehabilitation of rental housing |
Rural areas and populations of 20,000 or less |
Direct loan and grant |
Up to 100% of market value. Up to 33 years @ 1% interest |
Direct Loans and Grants - Apply to Rural Development
Loan Guarantees - Apply to Intermediary (approved banks, mortgage companies)
USDA Rural Development
Tennessee State Office |
Chattanooga Area Office |
Jackson Area Office |
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Lawrenceburg Area Office |
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Please direct questions about our Rural Housing Service Program to the Rural Housing Services
Staff at:
Telephone: 615-783-1375
Toll Free: 1-800-342-3149
Fax: 615-783-1398