There are two types of direct USDA loans: 502 and 504 loans. A 502 loan is used to purchase an existing home, and a 504 loan allows the borrower to make updates or improvements on a home.

TAZEWELL, Tenn. (WATE) — The U.S. Department of Agriculture will invest more than $176 million in loans and grants to rural communities across Tennessee, the department announced Tuesday. The ...

Rates are also being lowered by 0.125% on USDA’s Section 524 loans, which are made to “acquire and develop sites for low- or moderate-income families, with no restriction as to the method of ...

But he has hope that this fall, funding will be restored in the USDA 502 direct loan homeownership program, cut from $1.25 billion to $880 million this year, throwing many new homeowners, like ...