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Section 515 Rural Rental Housing is a USDA rural housing program authorized under Section 515 of the Housing Act of 1949 (42 U.S.C. 1485). The Rural Housing Service (RHS) is authorized to make loans to provide rental housing for low- and moderate-income families in rural areas. Though rarely used for this purpose, Section 515 loans may also be ...
The RHS National Office is located in Washington, D.C., and is responsible for setting policy, developing regulations, and performing oversight. In the field, RHS operations are carried out through the USDA's state and local Rural Development offices and service centers, several of which are located in each state and Puerto Rico.
The Rural Development Administration (RDA) was a USDA agency established by the 1990 farm bill (P.L. 101-624, Sec. 2302), amending the Consolidated Farm and Rural Development Act of 1972 (7 U.S.C. 1921 et seq.), to administer FmHA community and business programs and other USDA rural development programs.
One must meet the income restrictions for the county in which the buyer is interested. Each county has a maximum Income Requirement. The USDA Home Loan Program does allow for considerations for expenses like Child Care. [8] To be eligible, one must be purchasing a property in a rural area, as defined by the USDA.
Owners of housing financed under Section 515 or Section 514 may receive rental assistance payments from the Rural Housing Service (RHS). The assistance payments enable eligible tenants to make monthly rent payments that do not exceed the greater of: (1) 30% of monthly adjusted family income; (2) 10 percent of monthly income; or, (3) the portion ...
In particular, this assistance comes in three areas: business, utilities, and housing. The Under Secretary for Rural Development oversees loans, grants, and technical assistance to rural residents, communities, and businesses. With the rank of Under Secretary, the USDA(RD) is a Level III position within the Executive Schedule. [1]
CFR Title 7 – Agriculture is one of 50 titles comprising the United States Code of Federal Regulations (CFR) and contains the principal set of rules and regulations issued by federal agencies regarding agriculture. It is available in digital and printed form and can be referenced online using the Electronic Code of Federal Regulations (e-CFR).
Long title: An Act to improve and protect farm prices and farm income, to increase farmer participation in the development of farm programs, to adjust supplies of agricultural commodities in line with the requirements therefore, to improve distribution and expand exports of agricultural commodities, to liberalize and extend farm credit services, to protect the interest of consumers, and for ...