The United States Department of Agriculture (USDA) Rural Development announced that interest rates for the Single Family Housing Direct Loan Program have been lowered and 100 percent, no down payment financing is available.

On Aug. 1, the interest rate will decrease from 4.625 percent to 4.5 percent.

USDA Rural Development's Rural Housing Direct Home Loan Program offers 100 percent financing with no down payment required for low to very low income individuals or families.

These loans are made directly through USDA Rural Development and are offered for a period of 33-38 years. The repayment on the loan is subsidized by the Federal Government, based on the household income.

Applications for these programs are encouraged now.

For free pre-qualification, contact USDA Rural Development at 920- 907-2976, ext. 4, Monday through Friday, 8 a.m. to 4:30 p.m. or e-mail us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. This past year, USDA Rural Development returned over $740 million to rural Wisconsin communities. The funding supports a wide variety of loan, guaranteed loan and grant programs to rural residents in the areas of housing, community facilities, business development, infrastructure, and other development needs. Further information on USDA Rural Development programs is available by visiting USDA's website at http://www.rurdev.usda.gov/wi.

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