Stella, Nebraska, Aug 31, 2011 -- USDA Rural Development Area Specialist Delbert Virchow and staff celebrated homeownership for Joan Stock in Stella, Nebraska which was a result of effective partnering.
“Congratulations to Joan and her family on their new home,” said Virchow. “Partnering with Prairie Gold Homes, which are built by Nebraska prison inmates, and Vantage Pointe Homes was a key to bringing homeownership to the Stocks. We look forward to working with our partners to assist many more households with their housing needs.”
Joan Stock and her household currently reside in a home in Stella that is in substandard condition and is no longer feasible to repair or restore to a livable condition. USDA Rural Development provided a housing loan of $115,918 to Joan for the purchase of a new home through the USDA Rural Development Single Family Housing Direct Loan program.
A tree was planted at the future home of the Stocks today to celebrate their new place of residence. The Stocks will live in a recently built Prairie Gold Home that is located on the lot adjacent to their existing residence. The three bedrooms home is 1,008 square feet. The former residence will be razed once the new home is occupied. The Stock family will enjoy a more comfortable and safe lifestyle in their new place. The local community will receive a fresh look to the central location in Stella that is visible to all visitors in the main street area.
Prairie Gold Homes, Inc. is a nonprofit corporation that benefits all Nebraskans by helping prison inmates gain job skills and become productive citizens while building affordable, energy-efficient housing for communities.
Dan Kubr, Vantage Pointe Homes, served as the contractor for the Prairie Gold Homes project. Vantage Pointe Homes is a local producer of quality off-site constructed homes. Their immediate modular market includes Nebraska, Kansas, South Dakota, Iowa, and part of Colorado. modular home market area includes Nebraska, Kansas, South Dakota, Iowa, and parts of Colorado
USDA Rural Development has two loan programs that provide affordable homeownership opportunities to rural Americans: the Single Family Housing Guaranteed Loan program, and the Single Family Housing Direct Loan program. Both of these programs allow for 100 percent financing and affordable rates and terms. Eligibility is based on income, acceptable credit and repayment ability and the property must be located in rural areas with populations not exceeding 20,000 but including Norfolk and Columbus. You can visit the Agency eligibility website at http://eligibility.sc.egov.usda.gov to determine if you are within the established income limit based on the size of household and county and if the property is located within an eligible area.
USDA Rural Development has been very successful in helping rural residents in Nebraska live the American dream of homeownership. Since 1979, Rural Development has assisted more than 19,750 families to become homeowners in rural Nebraska. March 2011 marked a milestone of more than $1 billion of home loans made by the Agency in Nebraska. For Fiscal Year 2011, USDA Rural Development in Nebraska received an allocation of almost $164 million for financing home loan purchases in rural communities.
Housing not only provides a safe home for families, but also generates economic activity through construction jobs and results in direct real estate industry impacts relating to Realtors, banks, title companies, insurance, home furnishing sales, etc. Housing supports communities through an increased tax base and provides an available workforce. Available housing is important in bringing businesses to a community and provides a place “where jobs sleep” and allows families to live in communities where they work and reduce energy costs.
For more information contact Delbert Virchow at (402) 423-9683 ext. 130; firstname.lastname@example.org or Judy James at ext. 129; email@example.com.