Direct and guaranteed loans may be used to buys, build, or improve the applicant's permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana's, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available at http://www.rurdev.usda.gov/SupportDocuments/04401.pdf or in any Rural Development local office).
Interested applicants should contact their local USDA Rural Development field office for more information. To obtain contact information for the field office nearest you, visit http://offices.sc.egov.usda.gov/locator/app.
All applications for loans and grants are handled at the local level. For help with an application, contact your Rural Development office at: