« Back to previous page

What is the Special Financing Program called the USDA program for buying a home?

You can buy a new home with these 2 USDA government programs thru Pathfinders. The programs have been around for many, many years and they are not Special Programs thru any specific builder.

• Single Family Housing Guaranteed Loan Program; What does this program do? 

You can buy a new home with these programs. The Guaranteed Loan program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers.  More info at:    https://www.rd.usda.gov/programs-services/single-family-housing-guarante...

• Single Family Housing 502 Direct Home Loans; What does this program do? 

Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.  A number of factors are considered when determining an applicant’s eligibility for Single Family Direct Home Loans. At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt. More info at:  https://www.rd.usda.gov/programs-services/single-family-housing-direct-h...

Are these programs open to any builder? YES! Lancia does work with Pathfinders on building new homes thru these program. We have build many homes for years thru these programs.

Pathfinders now takes all applications online, go to:   https://pathfinderhomes.force.com/pathfinderhomescft

Find Out More

Make an appointment, 260-489-4433  visit the main office, a Lancia Model Home or Lancia Open House to find out more about how we can get started building the home of your dreams today!