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Why does USDA Rural Development do this?

The Section 502 Direct Loan Program provides a path to homeownership for LOW-to-VERY Low-income families living in rural areas that truly have no other way to make homeownership a reality.

These loans are an affordable alternative that provides subsidized mortgage loans for modest homes in rural areas. By providing families and individual the opportunity to own a home this program promotes prosperity, creates thriving communities, and improves rural quality of life.

Applicants are:

  • In LOW-to-VERY Low-income range as defined by the area median income in  the county in which the home is located

  • Receive pre-approved qualification and a Certification of Eligibility( COE)

  • Required to take an On-Line Home Ownership Education course and complete other necessary homeownership requirements.  If the applicant has been an homeowner within the past three years the course requirement is waived.

Lake Area Community Development Corporation (LACDC)

985 E. Hwy 54

P.O. Box 3553

Camdenton, MO 65020


For additional information or to complete an application, please use the links at the top of the page.


Or you may contact a Loan Officer at (573) 525-9388.

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