The USDA Rural Development Agency in Virginia, Minn., is accepting applications from individuals in Lake County who want to buy a home or make repairs to their existing home.

Loans are available to low-income families who want to buy homes in rural communities with a population of 20,000 or less. Loans may be made for up to 100 percent of the appraised value of a home, with no down payment required. Mortgages are typically for a 33-year term. Approval is based on household income and monthly debt obligation. Applicants must have a good credit history and show repayment ability.

Home repair loans and grants are for very low-income households that already own their home and need assistance to pay for repairs. Loans are at a 1 percent interest rate.

For more information, call the USDA office at 218-741-3929 ext. 4 or visit the office at 1202 Eighth St. S., Virginia.