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USDA Rural Development is accepting applications for very-low- and low-income individuals and families seeking to purchase or repair homes in rural areas. The Direct Home Loan program offers financing to qualified very-low- and low-income applicants who are unable to qualify for traditional financing. No down payment is required, and the interest rate could be as low as 1 percent with a subsidy.

Applicants must meet income and credit guidelines and demonstrate repayment ability. The program is available in rural communities of generally 35,000 or under. The maximum loan amount is $40,000 at a...