USDA to offer information about rural home loans - WSMV Channel 4

USDA to offer information about rural home loans

CLARKSVILLE, Tenn. (AP) - The U.S. Department of Agriculture is holding a meeting in Clarksville for people who are interested in learning more about the agency's federal rural development home loan programs.

A homeownership specialist will be at the USDA Farm Service Agency at 2543 Madison St. in Clarksville all day Tuesday.

Rural development home loans can be made without a down payment, and eligible applicants may qualify for financing up to 100% of the appraised value.

Loans are typically made for 33 years at a fixed interest rate. Eligibility is based on family income and varies by county. For example, a family of 4 living in Montgomery County with an adjusted income up to $43,000 may qualify. Staff members will help applicants calculate their adjusted household income and complete an application.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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