State of Missouri: USDA Rural Development Office Farmington

Description

One Percent loans made by USDA Rural Development up to $20,000 to very low income applicants to repair the home they now own, and grants made by USDA Rural Development up to $7,500 to very low income applicants to repair the home they now own to remove safety and health hazards. Grant recipients must be 62 years of age or older, and show they cannot afford a 1% repair loan.

Hours

Mon-Fri - 8:00am to 4:30pm

Required Documents

Call for Details

Eligibility

Very-Low income (50% of County Median Income or less). Must have sufficient and dependable income for loan repayment. Be a citizen or non-citizen that has been legally admitted for permanent residence. Possess legal capacity to incur debt Have an acceptable credit history. Be unable to get credit elsewhere and not have own resources available. For grants only: Be 62 years or older -Lack repayment ability for a loan amortized at a 1% interest rate for 20 years for the cost of needed repairs

Fees

Call for Details

Intake Procedure

Apply at Local Office

Languages

English

Service Area

Southern Missouri

Geography Served

Description

Loans made by USDA Rural Development to low and very low income applicants to buy, build or repair homes--payments may be subsidized.

Hours

Mon-Fri - 8:00am to 4:30pm

Required Documents

Call for Details

Eligibility

Have an acceptable credit history. Possess the legal capacity to incur debt. Be unable to obtain a loan for the full amount from other conventional lending sources on terms they can afford. Have sufficient income for loan repayment, taxes, insurance and other existing debts. Be a very low or low income applicant (80% or less of County Median Income) Be without ownership of decent, safe and sanitary housing

Fees

Call for Details

Intake Procedure

Apply at Local Office

Languages

English

Service Area

Southern Missouri

Geography Served