Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities
U.S. Government Accountability Office
Section 502 Rural Housing Single Family Loans - Direct
| Administering Agency/Entity |
Department of Agriculture |
| Short Description |
Provides direct loans to help households that have very low or low incomes purchase homes in rural areas. Applicants may obtain 100-percent financing directly from USDA to build, repair, renovate, or relocate a home or purchase and prepare sites, including providing water and sewage facilities. Loans may also be used to refinance homes under very limited circumstances. |
| Primary Purpose |
Assistance for buying, selling, or financing a home |
| Type of Housing Supported |
Homeownership |
| Type of Assistance |
Direct loan |
| Fiscal Year 2010 Obligations |
$78,000,000; obligations represent the expected credit subsidy costs for loan commitments made in fiscal year 2010, including loans authorized under the American Recovery and Reinvestment Act of 2009. These estimates are revised in subsequent years and the ultimate cost will not be known until the loans have matured. |
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