Last updated: August 14. 2014 3:51PM - 379 Views

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Interested in a home loan that requires no down payment, no private mortgage insurance and offers reasonable interest rates? Then the U.S. Department of Agriculture’s Single Family Housing program (SFH) might be right for you.


USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life in rural America. The agency’s SFH program supports this mission by offering direct and guaranteed home loans to help rural Ohioans buy or build safe, decent and affordable homes. Home ownership is an economic cornerstone for communities and owning a home is an integral part of the American dream. The impact of housing development also provides a stimulus for manufacturing, trade industries and related professional services, benefiting the larger economy.


The direct loan program provides government loans to very-low and low-income people who meet county adjusted income limits. Applicants must be able to afford mortgage payments, including taxes and homeowners insurance, and have an acceptable credit history. Direct loans are for 33 years and presently the fixed interest rate is 3.625 percent. Payment assistance also is available for many qualifying applicants. If applicants meet an asset limitation, no down payment is required.


For more information or to obtain an application, contact USDA Rural Development at (937) 393-1921, ext. 100; visit the office at 514 Harry Sauner Road, Suite 3, Hillsboro; or visit the website at http://www.rurdev.usda.gov.


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