June 28, 2006: USDA Loan Program to Encourage Efficient Rural Homes
WASHINGTON - The U.S. Department of Agriculture (USDA) announced that it will loosen its requirements for low- and moderate-income families buying energy-efficient homes in rural areas through the Rural Development Section 502 homeownership loan program.
Under the special program, called Home Energy Advantage, the qualifying ratios for home loans may be exceeded by up to two percentage points if an energy-efficient home is purchased. The program recognizes that owners of energy-efficient homes spend less money on utility bills, so they can afford larger mortgage payments.