Aberdeen, SD, Sep 30, 2011 -- You are invited to participate in a one thousandth home loan celebration on Thursday, October 6, 2011, at 10:30 AM. at the McDaniel residence located at 614 South Washington St , Aberdeen. The public is invited. This is your opportunity to learn about homeownership. Don’t miss this chance to hear more about the resources available to help you achieve your housing dreams while staying in your rural community. Please attend to learn about the various state and federal housing programs available to residents and housing developers including:
►Development Financing ►Homeowner Financing
►First-Time Homebuyers ►Down Payment Assistance
►Home Repair & Rennovation ►SD Governor’s Houses
►Community Housing Partnerships ►Private Housing Projects
Housing plays an important role in creating jobs, maintaining viable rural communities and contributing to the economy. Since the start of the current fiscal year, which began last October 1, USDA Rural Development has financed approximately 80,000 home loans for rural residents. Aberdeen received a waiver back in 2003 making it eligible for housing assistance under USDA Rural Development programs. Since 2003, 23 families have received assistance to make home improvements; 70 families have received assistance through the 502 Direct loan program to acquire, build, rehabilitate, or improve single family dwellings in rural areas, and 907 families received assistance through the 502 Guaranteed loan program; bringing to 1,000 the total number of families assisted through USDA Rural Development, along with partners from Northeast South Dakota Community Action Program(NESDCAP), Homes Are Possible, Inc. (HAPI), South Dakota Housing Development Authority (SDHDA), realtors, and approved GRH lenders.
“Housing drives rural economies and supports healthy rural communities,” Secretary of Agriculture Tom Vilsack said. “About 50 million Americans call rural areas home, and safe, sanitary housing is a basic human need in rural America. USDA Rural Development’s housing programs do more than provide a place for families to live. They stimulate economic activity through single-family home construction, rental assistance for those who need it, and funding for eligible very-low-income homeowners to enable them to keep their dwellings in good repair.”
“NESDCAP is one of five partners nationwide to assist in packaging 502 Direct loans on behalf of USDA Rural Development. The partnership with USDA Rural Development to provide affordable housing in South Dakota is an important initiative as families gain wealth and stability through homeownership. NESDCAP is committed to assisting households in meet their homeownership goals through Rural Development programs and a variety of other services and programs”, noted Lori Moen, NESDCAP Chief Operating Officer.
“We could not be more pleased to be a part of this. This is what HAPI is about; providing quality housing, at a price people can afford,” said Jeff Mitchell, HAPI Executive Director. “Our partnership with Rural Development, and the assistance they provide, is what makes it all come together. We cannot stress enough the positive impact they have had on our community.”
USDA Rural Development has eight offices in the state that assist rural communities. Office locations include a state office in Huron, along with area offices in Aberdeen, Mitchell, Pierre, Rapid City, Sioux Falls, Watertown, and Yankton.
USDA, under its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a network of 6,100 employees located in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.