Rural Housing Service (RHS),
Definition of Rural Housing Service (RHS):
The Rural Housing Service (RHS) is an administrative division within the U.S. Department of Agriculture that manages programs focusing on rural housing and community service facilities. The programs are designed to improve the quality of life in U.S. rural communities.
Housing agency part of the United States Department of Agriculture. One of its main duties includes supporting and assisting individuals with low income who are looking to own a home by providing them with subsidized loans. The Rural Housing Service also provides funds for housing rehabilitation and community facilities such as child care centers and municipal buildings.
The Rural Housing Service primarily administers direct loans and loan guarantees to people with low-to-moderate incomes who want to purchase, construct or rehabilitate a single-family rural home. Eligibility is based on many factors including income, family size, and location. For example, a four-person household in DeKalb County, Ill. with income at or below $37,500 would qualify for a direct home loan with annual interest as low as 1 percent. The same size family in the same county with an income up to $86,250 could qualify for a conventional private mortgage that is guaranteed by the government.
Meaning of Rural Housing Service (RHS) & Rural Housing Service (RHS) Definition