How may funds be used? Loan funds may be used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. How much may I borrow?
The amount that can be borrowed depends on many factors. These include the number of people in the household, monthly income, monthly debts, property location, estimated property taxes, and property insurance. How much down payment is required? No down payment is typically required. Applicants with assets higher than the asset limits may be required to use a portion of those assets. You may work directly with the Agency and avoid the loan application packaging fee. Working with our organization provides you with the following benefits:.
Browse our recent blog articles and you will see and learn about the various ways AFS can help you, as well as educate yourself. Credit Card Debt. Your Email. To Phone Number. Message Let them know your thoughts on this program. Send Cancel. Who is this for? For myself or my family I'm referring someone else. Your Name First Name.
Your Email Address. Your Phone Number. Best way to reach you Email. Text message. Phone call. Tell us about the person you're helping:. Their Name First Name. Last Name. The amount of assistance is determined by the adjusted family income. The focus will be to refinance existing Section direct and Section borrowers who have received a payment moratorium related to COVID Beginning May 17, , the Agency will accept applications from existing Section direct and Section loan borrowers, to refinance outstanding loans which have been in an approved COVID moratorium.
Who may apply for this program? At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt. Borrowers are required to repay all or a portion of the payment subsidy received over the life of the loan when the title to the property transfers or the borrower is no longer living in the dwelling.
Applicants must meet income eligibility for a direct loan. Please select your state from the dropdown menu above. What is an eligible area? Generally, rural areas with a population less than 35, are eligible.
How may funds be used? Loan funds may be used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.
0コメント