The Loan Packaging Program is for eligible buyers interested in purchasing a home on the open market. As loan packagers, we work closely with eligible applicants and USDA Rural Development to successfully complete the 502 Direct Loan application process. Habitat will work with you to determine loan eligibility, collect and correctly complete required USDA paperwork, package and submit your application to USDA Rural Development, and act as a go between for you with USDA. You are not required to work with a certified packager to apply for the USDA Rural Development 502 Direct Loan.
Habitat does charge a loan packaging fee of no more than $1,750. This fee is only due if USDA Rural Development approves you for a loan and you close on the loan. This means if you do not purchase a home with the USDA Rural Development 502 Direct loan, then you do not pay this fee. Additionally, we will assist you in finding means to cover this fee including the possibility of financing the fee in your loan.