Rural Housing
Assistance for Low-Income Families

American Savings Bank, in conjunction with the U.S. Department of Agriculture (USDA), offers a special loan (Single Family Housing Loan Section 502) to help low-income families and individuals buy a home in designated rural areas in Hawaii. A key benefit of the Rural Housing loan is that it doesn’t require a down payment.

Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

	Highlights Below > Benefits You’ll Receive > Fast Facts > Eligibility > Housing Standards

Benefits You’ll Receive

• Low-interest rate loan
• No down payment
• Lower loan fees (points) with a convenient AutoPay option from an existing checking account
• Free Online and Bank-by-Phone services — check your current balance, due date, etc.

	Fast Facts
	Loan Guidelines For low to moderate income families USDA-designated eligibility and rural residential property guidelines apply
	Get Rates

Eligibility
As an applicant, your median income may be up to 115% of the median income for the area. Families must be without adequate housing at the time of application, but must be able to afford mortgage payments, insurance, and any taxes associated with ownership. You must also show proof that you have been unable to obtain credit from any other source, yet maintain some reasonable credit history.

Housing Standards
The guidelines for the Section 502 program require that housing be modest in size, design and cost. Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the State of Hawaii and RHS thermal and site standards.