USDA / Rural Development - Rapides & Vernon Parishes

Address

(318) 473-7630

www.rurdev.usda.gov/la

Date of Official Change:

January 2, 2016

Description:

Committed to the future of rural communities. The objective of the Section 502 Direct Single Family Housing program is to assist very low- and low-income persons obtain financing for modest, decent, safe and sanitary housing in rural areas. Loan funds may e used to buy, build, rehabilitate, improve, or relocate an eligible dwelling for use by the borrower as a permanent residence and to provide related facilities, i.e. individual water and waster disposal systems for these homes. Financing for new manufactured homes is also available.

The objective of the Section 504 Rural Housing loan/grant program is to assist eligible very low-income owner occupants in rural areas repair their single family home. Grant funds may be used only to pay costs for repairs and improvements that will remove identified health and safety hazards, or to repair or remodel dwellings to make them accessible and usable for household members with disabilities. Loan funds may be used to make general repairs and improvements to properties or to remove health and safety hazards. Homes repaired with Section 504 loan or grant funds must remain modest in size and design.

Hours:

Monday-Friday 8:00am-4:30pm

Intake Process:

Call for intake / application process.

Program Fees:

There is no required down payment. Loans must be repaid with a small interest fee. The applicant must pay for the credit report. Additionally, the applicant must pay the appraisal fee, initial escrow deposit, and tax service fee (may be included in loan). The applicant is responsible for payment of closing costs and first year's paid insurance premium.

Languages:

English

Eligibility:

Applicant must have an adjusted family income that is at or below the low income limits, adequate and dependable income from stable employment; retirement, SSI, Social Security, VA, AFDC, Child Support, etc., must demonstrate adequate repayment ability, must have a credit history that indicates a reasonable ability and willingness to meet debts, must be unable to obtain a loan from conventional lending sources on terms they can afford, must NOT presently own an adequate dwelling, must personally occupy the dwelling to be purchased on a permanent basis, must be a US citizen or a non-citizen who qualifies as a legal alien, and must have the legal capacity to incur the loan obligation and cannot be suspended or debarred from participation in Federal programs.

Handicap Accessible?

Yes

Is Shelter?

No

Related Resource

Date of Official Change:

January 2, 2016

Volunteer Opportunities:

Agency does not utilize volunteers

Address Listings

Physical

6949 Louisiana Highway 1 Bypass, Suite 103
Natchitoches, LA 71457

Contacts

Available Staff

Primary Contact

Phone Numbers

Natchitoches Office

(318) 473-7630

Toll Free

(844) 332-7476

Legal Status:

Federal

Geography Served

    If a location is grayed out it means that only certain areas within it are covered. The areas with complete covereage are listed in black.

  • Louisiana
    • Rapides County
      • Vernon County
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