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Rural Rental Housing Loans

Rural Rental Housing Loans
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USES AND USE RESTRICTIONS
        Loans can be used to construct, or to purchase and substantially rehabilitate rental or cooperative housing or to develop manufactured housing projects. Housing as a general rule will consist of multi-units with two or more family units and any appropriately related facilities. Funds may also be used to provide approved recreational and service facilities appropriate for use in connection with the housing and to buy and improve the land on which the buildings are to be located. Loans may not be made for nursing, special care, or institutional-type homes. Grants are in the form of rental assistance for some units within the underwritten property.

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