– HOME EQUITY LOANS . If you have equity in your home, you can use it as collateral to take out a fixed-rate loan. You can use the money to fund a home upgrade.
502 direct rural housing loan program Differences between USDA guaranteed home loan and Direct – It allows prospective home buyers to purchase in a rural designated area and has a higher income limitation than the USDA Direct loan. It allows for buyers to have a qualifying income of up to 115% of the area median household income. Income is the key difference. USDA Direct Loan – Not as common as the Guaranteed USDA Rural Home Loan. The.