Guaranteed Rural Housing Loan Program
Dreaming of a home outside the big city?
Whether you’re dreaming of life on a secluded lot or simply a quiet neighborhood with extra space for the kids, the thought of rural life is shared by many homebuyers. The Guaranteed Rural Housing Loan Program (Section 502) helps people with qualifying income levels to purchase homes in USDA designated areas.
What are the benefits of a Rural Housing Loan?
- Low down payment
- Fixed rate
- Up to 100% financing
- Low to moderate income requirements
- Funds can be used to purchase a single-family home
Eligibility for a Rural Housing Loan
This program is an option for those buying a home in a USDA designated area, including:
- First-time homebuyers
- Previous homeowners
- Those unable to obtain adequate housing through conventional financing
We're here to help.
To learn more about the Guaranteed Rural Housing Loan Program, please submit our information request form or contact your nearest Old National mortgage expert.