COLUMBIA, MO, State Director Janie Dunning announced a reduction in the Single Family Housing Direct Loan Program interest rate. Effective February 1, 2015, the interest rate will fall to 3.25%.
Direct loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to acquire, build (including funds to purchase and prepare sites and to provide water and sewage facilities), repair, renovate or relocate a home.
To determine if you live in an area eligible for the Direct Loan Program you can access maps at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do.
If you have questions about the Direct Single Family Housing Loan Program, please contact Missouri Housing Program staff at the Missouri State Office at (573) 876-0976.
Rural Development Direct Housing Program Interest Rate Decreasing
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