502 Loan Packaging (USDA)
SO, WHAT CAN 502 DO FOR YOU?
Through a new partnership with USDA Rural Development, Neighborhood Housing and Development Corporation is now offering this special mortgage product exclusively to eligible homebuyers in our service area.
Rural Housing 502 Direct Loans are loans that are directly funded by the federal government. Mortgage payments are based on the household’s adjusted income.
• No down payment required
• Alternative credit analysis
• Interest rates as low as 1%
• Payment assistance available
• Affordable monthly payments
Rural Housing 502 Direct Loans are loans that are directly funded by the federal government. Mortgage payments are based on the household’s adjusted income.
Getting a 502 loan provides an opportunity to own your own home and build equity for the future. We offer financing options for customers with fixed incomes, those who are self-employed, and the working class.
Neighborhood Housing and Development Corporation is backed by FAHE, a regional network of nonprofit housing providers.If you are interested in applying for a 502 loan, please complete the application and return to us with the required documents. If you have any questions, please contact us.
