1. USDA Rural Development Grants & loans for non-profits Homeownership Home Repair Serve rural areas

2. USDA Rural Development Mutual Self-Help Grants Public & private non-profit organizations Used to operate a mutual self-help program Covers admin expenses, necessary tools Up to 15% of cost of modest housing times the number of homes to be built Serve applicants up to 80% MHI

3. USDA Rural Development Technical & Supervisory Assistance (TSA) Grants Public & private non-profit organizations Used to fund homeownership & financial counseling and delivery of housing programs Covers admin expenses Serve applicants up to 80% MHI Nationally competitive under a NOFA

4. USDA Rural Development Site Loans Public & private non-profit organizations Used to acquire and develop land Covers admin expenses Repaid from the sale of lots within 2 yrs Serve applicants up to 115% MHI

5. USDA Rural Development Home Ownership Programs Guaranteed Rural Housing (GRH) Loans: market interest rate made by local lenders Direct Loans: subsidized interest rate made by local USDA Rural Development Offices 100% LTV

6. Affordable GRH loans are guaranteed by USDA Rural Development eliminating the requirement for Private Mortgage Insurance Direct loans are subsidized to reduce the monthly payment

7. Flexible Can include money for repairs Can be used for new construction

8. Income Limits Based on family size for the county of residence as a % of Median Household Income: –GRH – 115% –Direct – 80%

9. Repayment Ability 29% PITI (Principal + Interest + RE Taxes + Insurance) 41% TD (Total Debt)

10. Credit History If credit score is at least 660 and there are no judgments, we don’t analyze credit history Credit issues may be waived if we determine: –Loan will reduce housing costs or –Circumstances were temporary, beyond applicant’s control, and have been resolved

11. Loan Limits Direct varies by county ($113,700 - $154,800) GRH limited by repayment ratios and income limits

12. Other Requirements U. S. citizen or a qualified alien Cannot already own an adequate home Personally occupy the home Unable to get a conventional loan (20% down) Rural areas only

13. USDA Rural Development Repair Loans and Grants Used to make essential repairs Serve rural homeowners up to 50% MHI Grants limited to those 62 and older who cannot repay a loan

14. USDA Rural Development Repair Loans and Grants Maximum loan: $20,000 at 1%, 20 yrs Maximum grant: $7,500 lifetime Grant must be repaid if house sold within 3 years

15. Eligibility Web Site http://eligibility.sc.egov.usda.gov/eligibility /mainservlet Shows if a specific property is in an eligible area Maps of ineligible areas Check income eligibility

16. Where to go for more information Contact local USDA Rural Development Office serving your area http://www.rurdev.usda.gov/in/ (317) 290-3100 ext 558 Paul.Neumann@in.usda.gov