How can I use GovLoans.gov to find the right loan for me?
There are several ways to find loans on GovLoans.gov. Select the type of loan you are interested in (e.g. housing, education, business, etc) on the left side of the page and look at a list of loans;

• Enter keyword(s) in the Keyword Search area;
  
• Click on "Browse All Loans" on the homepage to see all loans; or
  
• Answer a few questions and GovLoans.gov will give you a list of the loans that might fit your situation. Click on "Get Results by Questionnaire" on the homepage to start.

How does the Search function work?
The search function finds benefit programs based on the words or phrases you enter into the search text box. There are three methods for searching the GovBenefits.gov website:

• To find a program using a phrase, enter the phrase in quotes:
  "Home Mortgage"This will return all benefit programs containing the phrase "Home Mortgage" in either the title or the description.
• To find a program containing two or more specified words, enter each of the words preceded by a plus:
  +Student +LoanThis will return all programs containing both the words "Student" and "Loan" in either the title or the description.
• To find a program containing any one of a number of words, enter each word with a space between each:Home FloodThis will return all programs containing either the word "home" or "flood" in either the title or the description.

I found a loan that interests me - how do I find out more?
To learn more about a specific loan program that appears on GovLoans.gov, click on "What is it" to read more about it. The loan report page will give you more details about that loan, plus links to lender locators, online applications, the sponsoring government agency, or other information you will need. (last updated 03/17/2004)

Where can I read definitions for some common loan terms?
Visit the Glossary to see definitions for frequently used loan terms. You can review general definitions that apply to all types of loans, or read definitions that apply to one loan type, such as Housing Loans or Education Loans. (last updated 03/17/2004)

Who sponsors GovLoans.gov?
Five federal agencies - U.S. Department of Agriculture, U.S. Department of Education, U.S. Department of Housing and Urban Development, U.S. Small Business Administration, and the U.S. Department of Veterans Affairs - have come together to create this single point of access for federal loan information on the Web. GovLoans is a part of GovBenefits.gov, the official government benefits web site sponsored by the U.S. Department of Labor. (last updated 03/17/2004)

How can I find out more about GovLoans.gov?
You can find additional information about GovLoans.gov on the About page. (last updated 03/17/2004)

What browser should I use to view GovLoans.gov?
GovLoans.gov is best viewed with Internet Explorer, Version 5.5 and higher. Go to http://www.microsoft.com/windows/ie/downloads/default.asp and follow the instructions to download the browser for free.

Netscape users can access GovBenefits.gov with Version 7.0 and higher. (last updated 04/22/2004)

What is the Farm Service Agency (FSA)?
The Farm Service Agency is an agency of the U.S. Department of Agriculture (last updated 03/17/2004)

How do I apply for a guaranteed farm loan?
You should visit your local lender, who will then contact FSA to arrange for the guarantee. (last updated 03/17/2004)

What can FSA operating loans be used for?
FSA operating loans can be used to purchase livestock, equipment, feed, seed, fertilizer, pesticides and supplies; promote soil and water conservation; and, in some cases, refinance debt. (last updated 03/17/2004)

What can FSA farm ownership loans be used for?
FSA farm ownership (FO) loans can be used to buy or enlarge a farm or ranch, construct buildings or make other real estate improvements, promote soil and water conservation, and pay closing costs. Under the guaranteed FO program only, loan funds may be used to refinance debt. (last updated 03/17/2004)

Does USDA offer grants for purchasing or operating a farm/ranch?
No. USDA does not offer grants for farming. However, loans are available through USDA's Farm Service Agency for operating or buying a farm/ranch. (last updated 03/17/2004)

What is a "family farm?"
A family farm is a farm which produces agricultural commodities for sale in sufficient quantities so that it is recognized in the community as a farm rather than a rural residence. A substantial amount of the labor for a family farm is provided by the borrower's immediate family, although hired and seasonal labor is sometimes used during peak periods. (last updated 03/17/2004)

Do FSA farm loans have a lower interest rate than commercial loans?
Frequently, FSA's direct loan rates are lower than commercial loan rates. FSA rates are based on the Government's cost of borrowing money, which is often less than a private bank's borrowing costs. For guaranteed farm loans (made and serviced by banks and Farm Credit System institutions), interest rates are negotiated between the lender and the farmer. FSA, however, has an Interest Assistance program for guaranteed operating loans, which provides a 4% interest rate reduction to farmers who cannot project a positive cash flow at the lender's regular interest rate. (last updated 03/17/2004)

What kind of loan programs does FSA have for first-time or beginning farmers?
FSA sets aside a portion of its direct and guaranteed farm ownership (FO) and operating loan funds each year for beginning farmers. Also, FSA has a special down payment FO loan program to assist beginning farmers and ranchers to purchase a farm or ranch. To qualify:

Eligible beginning farmers and ranchers are also given first priority to purchase acquired properties taken into Government inventory. (last updated 03/17/2004)

Where do I apply for an FSA loan to buy or operate a farm?
You can apply for a direct loan at your local FSA office or USDA Service Center. To find the office nearest you, go to http://oip.usda.gov/scripts/ndisapi.dll/oip_agency/index?state=us&agency=fsa. FSA guaranteed loans are made and serviced by local agricultural banks and Farm Credit System institutions. FSA local offices can provide you a list of lenders who participate in the guaranteed loan program. You can then go to a bank and apply for a loan. The lender arranges for the guarantee. (last updated 03/17/2004)

Can I apply for an FSA direct loan online?
Yes. You should first review the information on the USDA website at http://www.eauth.egov.usda.gov. After you complete a customer profile and provide proof of identification to the local USDA Service Center, you can fill out and submit application forms to FSA electronically. If you wish to apply for a guaranteed loan, you should contact your lender. (last updated 03/17/2004)

What is the Small Business Administration (SBA)?
The U.S. Small Business Administration (SBA) aids, counsels and protects the interests of small business concerns. It provides financial assistance, contractual assistance and business development assistance. (last updated 03/17/2004)

What do I need to qualify for a SBA Loan?
In order to get a 7(a) loan, the applicant must first be eligible. Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process but good character, management capability, collateral, and owner's equity contribution are also important considerations. All owners of 20 percent or more are required to personally guarantee SBA loans. For more information, see:http://www.sba.gov/financing/sbaloan/7a.html (last updated 03/17/2004)

What type of collateral do I need for a loan?
Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process but good character, management capability, collateral and owner's equity contribution are also important considerations. All owners of twenty percent (20%) or more of the business are required to personally guarantee the SBA loan. The SBA does not deny approval for a SBA guaranty loan solely due to lack of collateral; however, it can be used as a reason, in addition to other credit factors. (last updated 03/17/2004)

How does the SBA guarantee loan program work?
Under the guaranty concept, commercial lenders make and administer the loans. The business applies to a lender for their financing. The lender decides if they will make the loan internally or if the application has some weaknesses which, in their opinion, will require an SBA guaranty if the loan is to be made. The guaranty which SBA provides is only available to the lender. It assures the lender that in the event the borrower does not repay their obligation and a payment default occurs, the Government will reimburse the lender for its loss, up to the percentage of SBA's guaranty. Under this program, the borrower remains obligated for the full amount due. (last updated 03/17/2004)

Where do I obtain an application for a SBA loan?
Applications have been provided by SBA to all lenders that actively participate with us. Applications can be obtained from the lender you will be working with, or at your local SBA Office. Many forms are also available online at http://www.sba.gov/library/forms.html. However, since there are several variations of SBA's loan programs, a business should always check with the lender or SBA District Office before filling out an application. See also: http://www.sba.gov/financing/basics/applyloan.html. (last updated 03/17/2004)

How do I apply for a SBA Loan Guarantee?
SBA has several different loan programs. Each of the programs is designed to cover a variety of business, needs, thus providing the most options to small businesses. (More on SBA's Loan Programs: http://www.sba.gov/financing/sbaloan/snapshot.html). As the programs are delivered by SBA's partners and are not direct loans from SBA, businesses should consult their District offices or contact the lending partners in their area before filling out any applications. Contact a local lender and discuss your loan proposal with one of their loan officers. Be prepared to discuss your proposal in detail with the lender. You should have the following available for the lenders review: your business plan; your personal financial statements; your business financial statements (if already a business); collateral available to secure the loan; assumptions used in your projected earnings statements; management resumes of those involved in operating the business; and pro-forma balance sheets showing what the business would look like if the loan were granted. Be prepared to discuss your proposal in detail with the lender. (last updated 03/17/2004)

What is the interest rate on SBA loans?
SBA does not set the interest rate on the loans, only the maximum rate the bank may charge. The actual rate is negotiated between the lender and the borrower. For more information on SBA's interest rates, please see: http://www.sba.gov/financing/subfiles/7a_interest_rates.html. (last updated 03/17/2004)

How long do I have to repay a SBA loan?
The repayment term is generally between five and twenty-five years depending on the life of the assets being financed and the cash needs of the business. Working capital loans (inventory and accounts receivable) should be repaid in five to ten years. The SBA also has short-term loan guarantee programs. Ask your lender or call your local SBA office. (last updated 03/17/2004)

What if the lender declines me for a SBA Guaranteed loan?
SBA no longer has direct funds to lend and cannot provide financial assistance without a participating lender. Ask the lender what can be done to improve your business plan and application. Correct the business plan and resubmit it to the lender. If that lender is unwilling to approve the loan or submit the application to SBA, try another lender. The Small Business Development Centers (SBDC) and the Service Corp of Retired Executives (SCORE) can provide assistance. SCORE and SBDC are partly funded by SBA and one-on-one counseling is available. (last updated 03/17/2004)

How do I get a small business grant?
At this time, Congress has not set aside any monies for grants to start and/or expand a small business. The U.S. Government does have grants that meet other purposes not related to business needs. The following website contains some of those resources: http://www.sba.gov/financing/basics/grants.html. SBA does however provide a loan guaranty program for loans made by your local lender. The SBA guarantees loans that the lender could not normally approve. For information on this program and ALL of SBA's financial assistance, please go to http://www.sba.gov/financing/sbaloan/7a.html. (last updated 03/17/2004)

How much can I borrow?
The amount of money you may receive will be based upon the actual cost of repairing or replacing your home and/or personal property, minus any insurance settlements or other reimbursements or grants. See the specific loan program for more information. (last updated 03/17/2004)

How soon will I know if I qualify for a disaster relief loan?
Disaster relief loans are typically not an immediate emergency relief program such as Red Cross assistance, temporary housing assistance, etc. They are loans to help you in your long-term rebuilding and repairing. (last updated 03/17/2004)

Are there any limitations to disaster relief loans?
Yes. Generally, loans will not be made for damage to personal pleasure boats, planes, recreational vehicles, antiques, collections, etc. Also, amounts for landscaping, family swimming pools, etc., are limited. (last updated 03/17/2004)

If I receive a disaster loan, may I spend the money any way I want?
No. The disaster loan is intended to help you return your property to the same condition it was in before the disaster. Your loan will be made for specific and designated purposes. Remember that the penalty for misusing disaster funds is immediate repayment of one-and-a-half times the original amount of the loan. The SBA requires that you obtain receipts and maintain good records of all loan expenditures as you restore your damaged property and that you keep these receipts and records for three years. (last updated 03/17/2004)

I would like to get a contractor's estimate for the cost of repairing damage to my home, but I'm having trouble finding one. Should I hold up my application until I get the estimate?
No. You might miss the deadline for filing your application while waiting for a contractor's estimate. If you have an estimate, include it. (last updated 03/17/2004)

If my home is completely destroyed, can I relocate my home somewhere else?
If you are unable to obtain a building permit to rebuild or replace your home at its original site, the cost of relocating your home might be included in the loan amount. Check the specific loan program for more information. (last updated 03/17/2004)

I am a farmer. My home was damaged, and so were my barns, fences, and some of my crops. Am I eligible to apply for assistance?
Depending on the program, you may apply for a loan to cover the damage to your home, its contents, your barns, fences and crops. Check the specific loan program for more information. (last updated 03/17/2004)

Are secondary homes or vacation homes eligible for disaster relief loans?
No, not as homes. They may be eligible for business disaster loans under certain conditions. (last updated 03/17/2004)

I had to remove debris from my property after the disaster. Can this expense be included in my loan application?
Yes, but your own labor and that of family members cannot be included. Amounts paid to others and any equipment rental can be listed as part of repairs to real estate. There are certain loan limits based on the loan you may received. Check the specific loan program for more information. (last updated 03/17/2004)

Are damages to cars and mobile homes eligible?
Generally, yes. The loan would be only for uninsured losses. Check the specific loan program for more information. (last updated 03/17/2004)

I am a student and need loan information. Where can I get more information?
Visit the GovLoans.gov Education page or visit the U.S. Department of Education's Federal Student Aid website at http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp. (last updated 03/17/2004)

I am a parent with a child who is going to college. Where can I get more information on loans?
Visit the GovLoans.gov Education page or visit the PLUS Loan page on the U.S. Department of Education's Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding. (last updated 03/17/2004)

I have several federal student loans. Can I combine them so I only have to make one payment?
Yes. You can combine your federal loan payments by applying for a Consolidation Loan. Visit the Consolidation Loans page on the U.S. Department of Education's "Student Guide", at: http://studentaid.ed.gov/students/publications/student_guide/2004_2005/english/types-consolidation.htm; or the Loan Consolidation page on Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/consolidation.jsp?tab=repaying#content. (last updated 03/17/2004)

Where can I get more information about Stafford Loans?
Visit the Stafford Loan page on the U.S. Department of Education's Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp?tab=funding. (last updated 03/17/2004)

Where can I get more information about PLUS loans?
Visit the PLUS Loan page on the U.S. Department of Education's Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding. (last updated 03/17/2004)

Where can I get more information about Perkins Loans?
Visit the Federal Perkins Loans page on the U.S. Department of Education's Student Guide, at: http://studentaid.ed.gov/students/publications/student_guide/2004_2005/english/types-fedperkinsloan.htm; or the Campus-Based Aid page on Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/campusaid.jsp?tab=funding#content. (last updated 03/17/2004)

Where can I get more information about Consolidation Loans?
Visit the Consolidation Loans page on the U.S. Department of Education's "Student Guide", at: http://studentaid.ed.gov/students/publications/student_guide/2004_2005/english/types-consolidation.htm; or the Loan Consolidation page on Student Aid on the Web, at: http://studentaid.ed.gov/PORTALSWebApp/students/english/consolidation.jsp?tab=repaying#content. (last updated 03/17/2004)

I am a first time homebuyer. Where can I get additional information?
GovLoans.gov provides many housing resources on the Resources page. You may also want to visit Common Questions from First-Time Homebuyers at http://www.hud.gov/buying/comq.cfm. (last updated 03/17/2004)

I am buying a new home. Where can I get additional information?
GovLoans.gov provides many housing resources on the Resources page. You may also want to visit 100 Questions and Answers About Buying a New Home at http://www.hud.gov/offices/hsg/sfh/buying/buyhm.cfm. (last updated 03/17/2004)

Where can I find a lender?
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) offer information on lender locations. Visit the HUD website at http://www.hud.gov/ll/code/llslcrit.html or the VA website at http://www.vba-roanoke.com/rlc/VA-e-lenders/ for more information. In addition, you may also want to visit your local Rural Development (RD) state office. To find the office nearest you, visit: http://www.rurdev.usda.gov/recd_map.html. (last updated 03/17/2004)

How much home can I afford?
Use the Affordability Calculator to help you estimate how much home you can afford at http://www.ginniemae.gov/1_learn/how_much.asp?Section=YPTH. (last updated 05/14/2004)

I am a Veteran/on active duty. Am I eligible to receive a home loan?
The U.S. Department of Veterans Affairs (VA) offers several loans. Visit the GovLoans.gov Housing page or the VA website at http://www.homeloans.va.gov/elig2.htm. (last updated 03/17/2004)

What is the Rural Development Housing Program?

The Rural Development Housing Program is an agency of the U.S. Department of Agriculture (USDA) located within the Department's Rural Development (RD) mission area. The Rural Development Housing Program operates a broad range of programs that provide:

* homeownership options to individuals;
* housing rehabilitation and preservation funding;
* rental assistance to tenants of Agency-funded multi-family housing complexes;
* farm labor housing;
* help to developers of multi-family housing projects, like assisted housing for the elderly and disabled, or apartment buildings; and
* community facilities, such as libraries, child care centers, schools, municipal buildings, and firefighting equipment to Indian groups, nonprofit organizations, communities and local governments.

The Rural Development Housing Program administers direct loans, loan guarantees and grants. Direct loans are made and serviced by RD staff, and loan guarantees are made to banks or other private lenders.

Where do I apply for a loan to buy a home in a rural area?
Contact the Rural Development Office near you for more information at http://www.rurdev.usda.gov/recd_map.html. (last updated 05/14/2004)

Does the Rural Development Housing Program work with other local and state organizations to provide its services to the community?
The Rural Development Housing Program works with other Federal agencies, and a number of nonprofit and private organizations nationally, in order to pool resources to help America's rural residents most effectively. For a list of some of these organizations, please check the following link: http://www.rurdev.usda.gov/other/hous.htm. (last updated 03/17/2004)

Where are Rural Development Housing Program offices located?
The Rural Development Housing Program National Office is located in Washington, D.C., and is responsible for setting policy, developing regulations, and performing oversight. In the field, Rural Development Housing Program operations are carried out through the USDA's state and local Rural Development offices and service centers, several of which are located in each state and Puerto Rico. (Four multi-state offices exist in addition to local offices within the states -- Vermont/New Hampshire; Massachusetts/Connecticut/Rhode Island; Maryland/Delaware; and Florida/Virgin Islands.) The Centralized Servicing Center, located in St. Louis, Missouri, provides loan origination and servicing directly to Rural Development Housing Program borrowers.

For a list of Rural Development State Offices click on the following link: http://www.rurdev.usda.gov/recd_map.html. (last updated 03/17/2004)

What is the Rural Development Housing Program service area?
Rural Development Housing Programs are available to eligible applicants in rural areas, typically defined as open country or rural towns with no more than 20,000 in population. An exception to the rural eligibility requirements is the Farm Labor Housing Program (Section 514/516), which is the only Federal program available for development of housing for farm workers. This program is available in both rural and urban areas. To determine whether a particular site is located within an RHS-eligible area, contact the Rural Development office located in that state at the following link: http://www.rurdev.usda.gov/recd_map.html. (last updated 03/17/2004)

Are there grants available through USDA to finance the purchase of a house?
No. USDA does not offer grants for this purpose. Loans are available through USDA's Rural Development Housing Program for purchasing a house. (last updated 03/17/2004)

Can I apply for a Rural Development Housing Program loan online?
Yes. First review the information on the USDA website at www.eauth.egov.usda.gov. After you complete a customer profile and provide proof of identification to the local USDA Service Center, you can fill out and submit application forms to Rural Development electronically. (last updated 03/17/2004)

I am a Veteran/on active duty and I want to know more about all the loans I may qualify for. Where can I go for more information?
There are several resources available to you. You may review the programs available on GovLoans.gov on the Housing and Veteran pages. In addition, you may want to visit the following Veteran websites:

* For Housing loans, visit http://www.homeloans.va.gov/
* For loans on Veteran insurance programs, visit http://www.insurance.va.gov/.