Government Grants, Loans: Very Low to Moderate Income Housing Loans (Application Process)

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Very Low to Moderate Income Housing Loans

Very Low to Moderate Income Housing Loans

APPLICATION AND AWARD PROCESS
	· Award Procedure
		Rural Development field offices have authority to approve most Direct loan requests. Processing of guaranteed loans varies in each State. Contact your Rural Development State Office, listed in the telephone directory. If no backlog exists, decisions on direct loan applications are made within 30 to 60 days. Requests for guarantee loans are acted upon in 3 days of receipt of the lender's request for guarantee.
	· Preapplication Coordination
		None. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372.
	· Application Procedure
		For direct loans, application is made at the Rural Development field office serving the county where the dwelling is or will be located. For guaranteed loans, application is made to a participating private lender. This program is excluded from coverage under OMB Circular No. A-110.
	· Deadlines
		None.
	· Range of Approval/Disapproval Time
		For direct loans, from 30 to 60 days subject to availability of funds, from the time the application is filed if no backlog of applications exists. A 'pre-qualification' may be provided to potential direct loan applicants upon call or visit to a Rural Development office, though results are not binding. For guarantees, a decision is required within 3 days of loan package submission by the approved lender.
	· Appeals
		Agency regulations providing customers with the rights for an informal review, mediation or alternative dispute resolution (ADR), or appeal to the National Appeals Division (NAD) are contained in 7 CFR Part 3550. NAD regulations are found at 7 CFR Part 11. Requests for an informal review, mediation and ADR must be received within 30 days from the date of the adverse decision. Requests for an appeal to NAD must be received within 30 days of receipt of the adverse decision.
	· Renewals
		Applicants may reapply at any time.

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Very Low to Moderate Income Housing Loans

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