USDA Logo Rural Development Logo USDA Rural Development Main Masthead
SpacerHomeDividerAbout RDDividerNewsroomDividerAgencies & OfficesDividerPrograms & OpportunitiesDividerHelpDividerContact UsDividerEn Español
Search RD
Spacer
Go
Spacer
Browse by Audience
Spacer
Spacer
Browse by Subject
Spacer
Business
Community Development
Cooperatives
Energy
Housing
Utilities
Loans
Grants
Technical Assistance
Forms and Publications
Regulations and Guidance
Online Services
Left Navigation Menu Bottom
Success Stories
Success Story
Release No. STELPRD4004009
Printable Version  Printable Version
ARRA FUNDS ALLOW NEWLY WEDS TO PURCHASE NEW HOME IN MO
May 05, 2010 -- 

Outline Of Need: Newlyweds, Charles and Naomi Hess, Randolph County residents, were tired of renting and really wanted to own their own home. They had been paying over $400 a month in rent and decided they could better spend their money buying a home of their own. They had heard about USDA Rural Development housing program through their parents and grandparents, who had applied or had a home loan with the agency in the past. Encouraged by the possibility they contacted the Moberly USDA Rural Development office to see if they would be eligible for the housing purchase program.

How Rural Development Helped: Working through the Moberly Rural Development office, Mr. and Mrs. Hess applied for a direct loan with funds provided through the American Recovery and Re-investment Act. The couple were determined eligible for a loan with no down payment. Real estate taxes and insurance are escrowed and included as part of the monthly payment. Payment assistance reduced the effective interest rate, thus reducing the monthly payment.

The Results: The happy couple has reached the American dream of home ownership, and look forward to many years enjoying their new home.

Last Modified:12/17/2012 
 
Footer Corner
RD Home | USDA.gov | Site Map | Policies and Links
FOIA | Accessibility Statement | Privacy Policy | Non-Discrimination Statement | Information Quality | FirstGov | White House