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Monroe County Habitat for Humanity begins packaging USDA 502 direct loans to expand affordable homeownership
Summary
Monroe County Habitat for Humanity told commissioners it is the only organization in Northeastern Pennsylvania packaging USDA 502 direct loans and is poised to close its first loan to a family of seven.
Scott David, executive director of Monroe County Habitat for Humanity, told commissioners on Aug. 6 that the organization has begun packaging USDA 502 direct loans, a subsidized mortgage program for low- and very-low-income buyers.
David said the nonprofit is the only community organization in Northeastern Pennsylvania packaging the USDA 502 direct loan and expects to close its first loan within two weeks on…
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