FABULOUS FIVE
GUARANTEED PROGRAMS (Rural Development Instruction 1980-D)
- LOAN LIMIT - 100% LTV; NO DOLLAR LIMIT SO LONG AS LOAN IS AFFORDABLE TO A MODERATE INCOME HOUSEHOLD
- PURPOSES - PURCHASE, BUILD, OR REFINANCE AN EXISTING USDA LOAN AT A LOWER INTEREST RATE
- ELIGIBLE AREAS - TOWNS OF 20,000 POPULATION OR LESS
- TERM - 30 YEAR FIXED
- RATES NEGOTIABLE - NOT TO EXCEED THE LENDER’S PUBLISHED VA RATE OR FANNIE MAE’s 30 YR. CONVENTIONAL ACTUAL/ACTUAL 90 DAY DELIVERY PLUS 60 BASIS POINTS (WHICHEVER IS GREATER)
- APPLICANT - MODERATE INCOME INDIVIDUALS
- INTERNET ADDRESS - http://www.rurdev.usda.gov/rhs/ProgramBriefs/brief_rhguar.htm
MULTI-FAMILY HOUSING (Rural Development Instruction 3565-A)
- LOAN LIMIT - NOT FOR PROFIT 97% OF VALUE; FOR PROFIT 90% OF VALUE
- PURPOSES - BUILD OR PURCHASE WHEN $15,000 REPAIRS/UNITS NEEDED
- ELIGIBLE AREAS - TOWNS OF 20,000 POPULATION OR LESS
- TERM - 25 YEARS MINIMUM / 40 YEARS MAXIMUM
- RATES - NEGOTIATED BETWEEN THE DEVELOPER AND LENDER
- APPLICANTS - NONPROFIT, PUBLIC, AND PROFIT ORGANIZATIONS
- INTERNET ADDRESS -http://www.rurdev.usda.gov/rhs/ProgramBriefs/brief_mfh_rrh.htm
BUSINESS & INDUSTRY (Rural Development Instruction 4279 A & B)
- LOAN LIMIT - $25 MILLION
- PURPOSES - BUSINESS AND INDUSTRY ACQUISITIONS, CONSTRUCTION & PURCHASE OF EQUIPMENT, MACHINERY OR SUPPLIES & WORKING CAPITAL & REFINANCING
- ELIGIBLE AREAS - TOWNS OF 50,000 POPULATION OR LESS
- TERM - REAL ESTATE 30 YEARS, CHATTEL 15 YEARS, WORKING CAPITAL 7 YEARS
- RATES - PRIVATE LENDER ESTABLISHES
- APPLICANTS -INDIVIDUALS, PUBLIC AND PRIVATE ORGANIZATIONS
- INTERNET ADDRESS
COMMUNITY FACILITY (Rural Development Instruction 3575-A)
- LOAN LIMITS - NO LIMIT
- PURPOSES - BUILD OR EXPAND VITAL COMMUNITY FACILITY
- ELIGIBLE AREA - LOCATED IN TOWNS UNDER 20,000 POPULATION
- TERMS - USEFUL LIFE NOT TO EXCEED 40 YEARS
- RATES - PRIVATE LENDERS ESTABLISH RATES
- ELIGIBLE APPLICANTS - PUBLIC ENTITIES & NONPROFIT ORGANIZATIONS
- INTERNET ADDRESShttp://www.rurdev.usda.gov/rhs/cf/cp.htm
WATER & WASTE (RUS Instruction 1779)
- LOAN LIMITS - NO LIMIT
- PURPOSES - CONSTRUCT, ENLARGE, EXTEND OR IMPROVE WATER OR WASTE DISPOSAL
- FACILITIES INCLUDING SOLID WASTE DISPOSAL
- ELIGIBLE AREA - LOCATED IN TOWNS UNDER 20,000 POPULATION
- TERMS - USEFUL LIFE NOT TO EXCEED 40 YEARS
- RATES - PRIVATE LENDERS ESTABLISH RATES
- ELIGIBLE APPLICANTS - PUBLIC ENTITIES & NONPROFIT ORGANIZATIONS
- INTERNET ADDRESShttp://www.usda.gov/rus/water/prog.htm
OTHER INTERNET ADDRESSES
USDA, RURAL DEVELOPMENT is an Equal Opportunity Lender, Provider and Employer.
Complaints of discrimination should be sent to: USDA, Director, Office of Civil Rights
Washington D.C., 20250
March 2003
