USDA (GRH) Loan Programs

GRH Loan Programs:

The U.S. Department of Agriculture offers a variety of programs to help low to moderate income individuals living in small towns or rural communities achieve homeownership. The Guaranteed Rural Housing loan (GRH) helps qualifying applicants, who do not have funds available for a down payment, purchase modestly priced homes as their primary residence.

GRH Loans are an attractive option because:

No down payment is required
No monthly mortgage insurance premiums are charged
They can be used to purchase either a pre-owned or newly constructed home

Purchasers must fall within certain income limits based upon family size to qualify for the GRH loan program. The income limits are based upon the combined income of ALL members of the family over the age of 18 that will reside in the new home. The current income limits for Southern Indiana are as follows:

1-4 Person families total annual income can't exceed $73,600
5-8 Person families total annual income can't exceed $97,150

In Southern Indiana, all Warrick, Posey, and Gibson county homes qualify for use with the GRH loan program, and several area's of Vanderburgh county, outside of the Evansville city limits qualify as well.

The USDA has setup a website to help prospective buyers determine if a home is eligible for the GRH program by simply entering the address. Once the address is entered, the system will tell you if the home is ELIGIBLE or INELIGIBLE

To verify eligibility for a specific address click HERE.

To learn more about the USDA GRH Loan Program, please contact one of our qualified loan specialist at 812-842-2283.