USDA backed $149 million in home loans last year
The U.S. Department of Agriculture (USDA) guaranteed $149 million in loans to 1,532 applicants in 2010 to buy homes in rural areas or in communities with a population of 25,000 or fewer. The USDA administers the guaranteed loan program through its rural development offices. In most cases, a family of four with an adjusted annual income of up to $74,050 can qualify for the loans, with the USDA reducing losses to lenders if borrowers default on the loans. More information on this and other USDA programs is available by calling 284-4663, or by visiting www.rurdev.usda.gov/ia.
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