USDA Loans and Grants

USDA 502 Direct Home Loans are used to help low and very low-income individuals or
households purchase homes in rural areas.  Print out USDA 502 Prequalification, send
with all requested attachments to:


Housing Development
PO Box 470
Bowling Green, MO 63334

Call 573-324-6622 to have the application mailed to you.


Benefits:

  • No Down Payment
  • 100% financing
  • Taxes and insurance are escrowed with monthly payment
  • No Private Mortgage Insurance (PMI)
  • USDA is not credit score driven


Qualifications:

  • Must have stable and dependable income, which is sufficient to repay the loan. This can
    include disability and may include Section 8 vouchers if they are transferable to home ownership.
  • Gross household income should be within agency income limits (contact specialist for more information).
  • Must have acceptable credit history – we can assist you with reviewing and improving your credit
  • Must be legal age to incur loan obligation 
  • Must be a U.S. citizen or have permanent resident alien status


USDA Section 504 Home Repair Program is to provide low and very low-income homeowners loans
to repair, improve or modernize their homes and grants to elderly very-low income homeowners to
remove health and safety hazards.

Print out USDA 504 App, send with all requested attachments to:

Housing Development
PO Box 470
Bowling Green, MO 63334

Call 573-324-6622 to have the application mailed to you.