This program restructures loans for existing Rural Rental Housing and Off-Farm Labor Housing projects to help improve and preserve the availability of safe affordable rental housing for low income residents.
Funds may be used for the following:
Maximum Award Amount
Terms for the loans include one percent fixed interest rate, 20-year maximum term, and an $11,000 maximum loan per household.
Current multi-family housing project owners with Rural Rental Housing and Off-Farm Labor Housing loans. Borrowers must continue to provide affordable rental housing for 20 years or the remaining term of any USDA loan, whichever is later.