An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Rural Housing Service (RHS)

A part of the U.S. Department of Agriculture that provides loans, grants, and loan guarantees to help people in rural areas buy, build, or repair homes, and to develop rental housing and community facilities.

Multifamily Mortgage

A loan used to buy or refinance a property that contains more than one living unit, such as an apartment building.

Foreclosure

The legal process by which a lender takes possession of a property when the borrower fails to make mortgage payments.

Rental Assistance Contract

An agreement that provides subsidies, often from a government program, to help low-income residents pay their rent in specific housing properties.

Native CDFI

A Community Development Financial Institution (CDFI) that focuses on providing financial services and development resources to Native American, Alaska Native, and Native Hawaiian communities, which are typically underserved by mainstream financial institutions.

Section 502/504 Loans and Grants

Specific programs under the Housing Act of 1949, administered by the Rural Housing Service, that offer direct or guaranteed loans (Section 502) to help low- and very-low-income rural residents buy homes, and loans/grants (Section 504) for very-low-income homeowners to repair or improve their homes.