USDA Home Loan Program

Low interest, fixed-rate Homeownership loans are provided to low income qualified persons directly by USDA Rural Development. Financing is also offered at fixed-rates and terms through a loan from a private financial institution and guaranteed by USDA Rural Development for low to moderate income qualified persons. Neither one of these home loan programs require a down payment. Contact RCCR using the contact button above or call (304) 346-6398 if you are interested in hearing more about the USDA Guaranteed or 502 Direct Programs or to start the application process.

USDA Guaranteed Loan Program

The United States Department of Agriculture (USDA) Guaranteed Loan is for moderate- income applicants in rural areas who are unable to obtain adequate housing through conventional financing. Applicants may obtain 100% financing to purchase an existing home, purchase a site and construct a home, or purchase a newly constructed home located in a rural area. Mortgage payments are based on the household’s adjusted income.

How to Check for Property Eligibility

To be eligible for a USDA Guaranteed Loan the property must be deemed rural by the USDA. To see if a prospective property qualifies visit the USDA Income and Property Eligibility Site. Once there select “Single Family Housing Guaranteed” and it will take you to a map where you can enter the address of the property.

RCCR offers housing services for the West Virginian Counties of Kanawha, Boone, Putnam and Fayette.

Loan Information

Credit Score: A 620 credit score or an establishment of three alternative credit trade lines is required. 

Term: 30 years

Income Limits: Household 4 or under: up to 90,300; 5+: 119,200

USDA 502 Direct Loan

USDA Direct 502 Loans offer mortgages in rural areas to low and very-low income applicants. It includes a 33 or 38 year term, depending on household income, with the ability to receive a government subsidy on the interest rate. Applicants may obtain 100% financing to purchase an existing home, purchase a site and construct a home, or purchase a newly constructed home located in a rural area. Mortgage payments are fixed rate with no mortgage insurance required and based on the household’s adjusted income and is typically within 22 to 26 percent of an applicant’s income.

How to Check for Property Eligibility

To be eligible for a USDA 502 Direct Loan the property must be deemed rural by the USDA. To see if a prospective property is rural visit the USDA Income and Property Eligibility Site. Once there select “Single Family Housing Direct” then “Property Eligibility” and it will take you to a map where you can enter the address of the property.

RCCR offers housing services for the West Virginian Counties of Kanawha, Boone, Putnam and Fayette.

Loan Information

Credit Score: A 640 credit score or an establishment of three alternative credit trade lines is required. 

Term: 33 or 38 years terms available based on income

Other Information: Other Information: 100% financed fixed rate mortgage, payments based on income

Contact our Housing Counselor

If you are interested in becoming a first-time homebuyer, contact (304) 346-6398

Our Impact

$4 Million 

RCCR facilitated through new home mortgages*

700+

First time homebuyers

3000+

Families served

*2019 outcomes