Section 524 loans:

Land acquisition and development loans authorized under Section 524 of the Housing Act of 1949. Nonprofit organizations and Indian tribes may obtain loans from the Rural Housing Service to purchase and develop land that is to be subdivided into building sites for housing low- and moderate-income families. The loans are made for a 2-year period. Sites financed through Section 524 have no restrictions on the methods by which the homes are financed or constructed. The interest rate on Section 524 site loans is the Treasury cost of funds.

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Information and definitions of the terms been taken from various reliable government publications and we have done our best to verify their accuracy. If you feel any of the definitions are incorrect or needs to be updated please contact us and we will look into it.

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