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Section 502 Loans
Section 502 loans are a rural housing loan program, administered by the Rural Housing Service (RHS), authorized under Section 502 of the Housing Act of 1949 The American Housing Act of 1949 () was a landmark, sweeping expansion of the federal role in mortgage insurance and issuance and the construction of public housing. It was part of President Harry Truman's program of domestic legislation, the Fai .... Borrowers may obtain loans for purchasing or repairing new or existing single-family housing. Loans are made directly by RHS (7 CFR 3550) or by private lenders with a USDA guarantee (7 CFR 3555). Borrowers with income of 80% or less of the area median may be eligible for 33- year direct loans and may receive payment assistance to bring the interest rate to as low as 1%. In a given fiscal year, at least 40% of the units financed under this section must be made available only to very low-income families or individuals (below 50% of the area median). In addition, families or indivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rural Housing Service
The Rural Housing Service (RHS) is an agency of the United States Department of Agriculture (USDA). Located within the Department's Rural Development mission area. RHS operates a broad range of programs to provide moderate- low- and very-low-income Americans in rural communities with: *homeownership options to individuals, including direct home loans and mortgage guarantees; * housing rehabilitation and preservation funding; *grants to non-profits who organize self-help housing services in rural communities; *rental assistance to tenants of RHS-funded multi-family housing complexes; * farm labor housing; *help to developers of multi-family housing projects, like assisted housing for the elderly and disabled, or apartment buildings; and *community facilities, such as libraries, child care centers, schools, municipal buildings, veterans shelters and firefighting equipment to Indian groups, nonprofit organizations, communities and local governments. RHS administers direct loans, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Act Of 1949
The American Housing Act of 1949 () was a landmark, sweeping expansion of the federal role in mortgage insurance and issuance and the construction of public housing. It was part of President Harry Truman's program of domestic legislation, the Fair Deal. Background During the Roosevelt administration the National Housing Act of 1934 which established the Federal Housing Administration (FHA) and the Housing Act of 1937 were signed into law, the latter of which directed the federal government to subsidize local public housing agencies. On April 12, 1945 the passing of President Franklin D. Roosevelt propelled Harry S. Truman Vice President into the seat of Presidency. Truman secured the Democratic nomination in 1948 presidential election, with a platform promising to provide for slum clearance and low-rent housing projects. Truman was elected to a full term in 1948 with the Democrats also reclaiming the House of Representatives and the Senate. In his 1949 State of the Union addres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In The United States
Housing in the United States includes both detached homes and apartment buildings. Housing is a vital economic sector, contributing to 15% of the GDP. Owner-occupancy is commonplace; the majority own their home. For regional details, see also housing in the United States by state. Overview Housing as shelter is one of the "basic needs" of humans, offering protection against the elements. It also provides a place of privacy away from the public eye where daily activities can take place. Residents often have personal attachment to a house, making it a home. A home's location, style and access to schools, parks, and other amenities can align a household to a greater community to reinforce cultural or religious bonds. These characteristics can also reinforce segregation and unequal access to amenities. Housing is also important to developers, builders, lenders, realtors, investors, architects, and other specialized professions and trades. These groups view housing as a commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Agriculture
The United States Department of Agriculture (USDA) is the United States federal executive departments, federal executive department responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food. It aims to meet the needs of commercial farming and livestock food production, promotes agricultural trade and production, works to assure food safety, protects natural resources, fosters rural communities and works to end hunger in the United States and internationally. It is headed by the United States Secretary of Agriculture, Secretary of Agriculture, who reports directly to the President of the United States and is a member of the president's Cabinet of the United States, Cabinet. The current secretary is Tom Vilsack, who has served since February 24, 2021. Approximately 80% of the USDA's $141 billion budget goes to the Food and Nutrition Service (FNS) program. The largest component of the FNS budget is the Supplementa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
