Single Family Housing- Loans and grants are made to provide rural residents with decent, safe and sanitary housing. In Illinois, these programs help finance new or improved housing for over 3000 moderate, low or very-low income families each year. Rural Housing programs provide financing, with no down payment, at favorable rates and terms, either through a direct loan or with a loan from a private financial institution which is guaranteed by Rural Development.
Multi-Family Housing- People with low-wage jobs who live in rural areas have a difficult time finding affordable housing. Rural Development offers loan and loan guarantee programs for new construction or substantial rehabilitation of rental housing for very low, low and moderate income families, the elderly and people with disabilities. A limited number of grants are available to qualified organizations to develop programs to assist very low and low-income rural homeowners. Loans are also available to provide capital financing for the development of housing for domestic farm laborers.
