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Very Low to Moderate Income Housing Loans – ThoughtCo – The following is a summary of information about low to moderate income housing loans available to individuals or families through the U.S. Department of Agriculture’s Rural Development program as listed in the Catalog of federal domestic assistance (CFDA).
Many low income loans are backed by government-sponsored programs and might be used to help pay for college, buy a home, start a business or refinance existing debt. Two common examples are loans backed by the Federal Housing Administration (FHA) or the Veteran’s Administration (VA) that help low income individuals buy a home or refinance a.
Obama administration pushes banks to make home loans to people with weaker credit – “If you were going to tell people in low-income and moderate-income communities and communities. Under FHA terms, a borrower can get a home loan with a credit score as low as 500 or a down payment.
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