It been more than 50 years since President Truman signed into law the National Housing Act of 1949 millions of rural American families have achieved the dream of homeownership. It began as a program that allowed farm families to build homes on the land they were working but evolved into a housing program that now impacts every facet of rural American life.
The rural housing programs of the U.S. Department of Agriculture have played a key role in helping 75 percent of rural families become homeowners. Since its inception, these programs have helped more than 1.9 million families purchase their homes. Without this financing, most of these families would not have been able to obtain a mortgage to finance a home.
The rural housing programs administered by USDA Rural Development include loans for the purchase, repair, or construction of single family housing; loans and grants to remove health and safety hazards in owner-occupied homes; loans and grants for the construction and purchase of rental housing for farm workers; loans for the purchase and construction of rental and cooperative housing for the elderly and laborers.
FY-2010 Housing Program Investment in Rural New Mexico
| 502 Direct || $ 7,623,199 |
| 502 GRH || 47,980,963 |
| 502 Direct (ARRA Funds) || 3,963,754 |
| 502 GRH (ARRA Funds) || 3,757,224 |
| 504 Loan || 182,777 |
| 504 Grant || 168,760 |
| 306C Water Disposal Grants || 40,607 |
| Multi-family housing || 1,949,000 |
| HPG || 131,228 |
| Rental Assistance || 13,516,132 |
|| $79,313,644 |