USDA Rural Development Offering Housing Funds
USDA Rural Development Offering Housing Funds for Very-Low and Low-Income Families in Rural Kentucky Communities
Statewide Kentucky – USDA Rural Development State Director Tom Fern has announced the availability of federal funds for housing loans and that applications are being accepted for the low- and very-low income citizens in rural Kentucky.
“USDA mortgage loan programs are life-savers for so many rural residents who have been unable to purchase their own homes,” said Fern. “The Single Family Housing Direct Loan program helps improve quality of life and economic opportunity in rural Kentucky, serving our most vulnerable residents – low-income families, the elderly and persons with disabilities.”
In 2014 alone, USDA helped more than 5,000 rural Kentucky residents become homeowners by investing more than $521 million in loans, grants and technical assistance that provided affordable, safe housing for rural Kentuckians.
“Affordable home financing creates ladders of opportunities to help families grow and thrive,” said Fern. “The multitudes of homeowners assisted through USDA programs generate tremendous benefits that ensure rural America remains a vital and prosperous place to live, work and raise a family today and in the future.”
The lack of access to decent, safe and affordable rural housing and difficulties obtaining mortgage credit severely limits options for rural citizens. Rural Development offers direct and guaranteed single-family housing loans to eligible rural residents. Applicants may obtain 100 percent financing to purchase an existing dwelling, purchase a site and construct a dwelling, purchase newly constructed dwellings located in rural areas. Eligibility is based on household income, repayment ability, and credit history.
Through its Direct Loan Program, USDA assists low- and very-low income applicants obtain decent, safe and sanitary housing in eligible rural areas. Applicants must meet income eligibility for a direct loan. Please contact your local RD office at (270) 843-1111 Ext 4 to ask for additional details about eligibility requirements. A map of Rural Development office locations in Kentucky, as well as contact information, is available online at http://www.rd.usda.gov/files/KY_RD_Offices.pdf. Bowling Green Rural Development office services: Allen, Butler, Logan, Simpson and Warren Counties. Eric Kennedy, Loan Assistant and Deborah Hammers, Area Technician are available to answer your questions.
The Guaranteed loan program provides homeownership loans through approved lenders. Additional information on the USDA housing programs can be found at the agency website: http://www.rd.usda.gov/programs-services/single-family-housing-guarantee....
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President's leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America's economy, small towns and rural communities. USDA's investments in rural communities support the rural way of life that stands as the backbone of our American values.
USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users)