If you have ever driven from Palmetto, Georgia to Chattahoochee Hills, Georgia on Hutcheson Ferry Road, then it exemplify USDA-RD Housing.
As you drive through, you know that it has the look and feel of a rustic, scenic route similar to the foothills of the Appalachian Mountains.
There is a certain charm of rural life that sets both of these rural towns apart from urban areas.
Also, they don’t call us “Horse Country” for nothing.
Most of Chattahoochee Hills quaint homes and stately rural manors sit on densely wooded hilltops or tucked out of sight in coves and hollows, where horses are raised and ridden alongside historic trails, streams and waterfalls.
It is predicted that rural land in the United States will become more valuable as people flee from large cities…
If that is the case, rural housing and land will soon start attracting attention from investors, Real Estate developers, and homeowners as it already has in Serenbe.
God isn’t making anymore of this awesome land!
It is such a best-kept secret that I have decided to post many articles to educate want to be homesteaders about how you can get your own USDA rural home to enjoy forest, incredible mountain views, lakes, waterfalls, and community nature trails.
Direct and Guaranteed Loans may be used to buy, build, or improve the applicant’s permanent residence.
New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements.
Under very limited circumstances, homes may be re-financed with Direct Loans.
Dwellings financed must be modest, decent, safe, and sanitary.
The value of a home financed with a Direct Loan may not exceed the area limit.
Assistance is available in the United States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana’s, and the Trust Territories of the Pacific Islands.
Direct Loans are made at the interest rate specified in the USDA-RD Instruction 440.1, Exhibit B (available in any Rural Development local office).
In order to qualify for this benefit program, your property must be located in an eligible rural area.
Applicants must have very low, low or moderate incomes.
Very low-income is defined as below 50 percent of the area median income (AMI); low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI.
Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI).
Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt.
In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history.
You must also be a U.S. citizen or permanent resident.
The following information will lead you to the next steps to apply for this benefit.
Interested applicants should contact their local USDA-RD field office for more information.