Maine 
Click here for Maps of Eligible Areas
Single Family Housing Loans and Grants
Section 502 Guaranteed Loans
- Loans made by conventional lenders and guaranteed by USDA Rural Development to low and moderate income applicants to buy or build homes (30 year fixed interest rate).Section 502 Direct Loan Program - Low interest loans made directly by Rural Development (direct) to applicants whose incomes are less than 80% median. Program is focused towards purchasing existing dwellings, constructing new homes, or repairing pre-owned dwellings, located in rural areas of Maine.
Section 504 Direct Loan Program - Loans made at 1% interest rate to repair, improve or modernize modest single family dwellings located in rural areas of Maine. Applicants income must be less than 50% median.
Section 504 Direct Grant Program - Grants made to repair, improve or modernize modest single family dwellings located in rural areas of Maine. Applicants must be 62 years or older or have a qualifying handicap or disability and be unable to afford any loan payments..
Self-Help Housing Program - Low interest loans made directly by Rural Development (direct) to applicants whose incomes are less than 80% median. Program is focused towards purchasing existing dwellings, constructing new homes, or repairing pre-owned dwellings, located in rural areas of Maine.
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Copyright © 1998 United States Department of Agriculture Rural Development
This Page Was Last Updated on Monday, August 17, 1998 10:00 PM
