Things You'll Need:
- Computer
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Step 1
Select the type of loan you want to receive. Choose between single family home ownership, multi-family housing programs or community facility program loans. Decide whether you want a loan to help make rental payments, purchase a new home or to renovate or repair a home that you already own.
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Step 2
Check your income eligibility. Visit the USDA's official website (see resources). Select your residency location including the state and county that you live in. Under "Income Eligibility," provide the number of children and the number of people aged 18 and up living in your household. Give your age and indicate whether disabled persons live with you or not.
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Step 3
Verify your residence eligibility. Click "Property Eligibility." Select the property type you are applying for. Read the license agreement then follow the intuitive steps at the website to determine your residence or property eligibility for a home loan. Keep in mind that, as determined by the USDA, rural areas include open country and communities with populations that do not exceed 25,000.
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Step 4
View homes for sale. Check on your state's loan program at the FSA website. Review the standard homes that are currently for sale. Below the standard home listing study the marshal sale fact sheets for other available homes in your area.
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Step 5
Read the most current Notice of Funding Availability (NOFA) in the Federal Register. Check with your local rural development state office to find out the date the latest notice was published. Review the notice to learn the about the type of funding currently available in your area. Respond to the notice within 60 to 90 days of publication to be considered for the next available farmer's home loan. Keep in mind that it is important to stay connected with your state rural development office in order to get a copy of the notice as soon as it is published.
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Step 6
Check with your local rural development office to obtain the necessary applications and forms you need for your particular loan. You can also register for a login and password to access electronic forms at the USDA's official website.
