---
kind: "section"
citation: "7 C.F.R. § 3550.2"
title: "7"
number: "3550.2"
heading: "Purpose."
url: "https://uscodex.org/cfr/7/3550.2"
---

# §3550.2. Purpose.


The purpose of the direct RHS single family housing loan programs is to provide low- and very low-income people who will live in rural areas with an opportunity to own adequate but modest, decent, safe, and sanitary dwellings and related facilities. The [section 502](/cfr/7/502.md) program offers persons who do not currently own adequate housing, and who cannot obtain other credit, the opportunity to acquire, build, rehabilitate, improve, or relocate dwellings in rural areas. The [section 504](/cfr/7/504.md) program offers loans to very low-income homeowners who cannot obtain other credit to repair or rehabilitate their properties. The [section 504](/cfr/7/504.md) program also offers grants to homeowners age 62 or older who cannot obtain a loan to correct health and safety hazards or to make the unit accessible to household members with disabilities.


## Notes

### Authority

Authority: 5 U.S.C. 301; 42 U.S.C. 1480.

### Source

Source: 61 FR 59779, Nov. 22, 1996, unless otherwise noted.