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USDA’s Self-Help Loan Program Provides Unique Opportunities for Home Ownership

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  • Wallace, George

Abstract

USDA's 502 Direct Loan Homeownership Program offers a limited number of borrowers the option of participating in mutual self-help programs. Through these programs, nonprofit entities organize 5 to 12 borrowers into a self-help team that works together to complete each other's homes. Evidence from a survey of 502 borrowers suggests that the "sweat-equity" method of building a home improves the chances of successfully owning a modest home while enhancing the wealth of the borrower.

Suggested Citation

  • Wallace, George, 2000. "USDA’s Self-Help Loan Program Provides Unique Opportunities for Home Ownership," Rural America/ Rural Development Perspectives, United States Department of Agriculture, Economic Research Service, vol. 15(3), September.
    • Handle: RePEc:ags:uersra:289472
    DOI: 10.22004/ag.econ.289472
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