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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