A sweeping consolidation of the federal government proposed by the Donald J. Trump administration would have government-backed rural housing finance changing agencies.
Currently, the Single Family Housing Guaranteed Loan Program is utilized for financing rural properties and is administered by the U.S. Department of Agriculture.
“This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas,” the USDA says on the website.
Source: Mortgage Daily
