|FOR MANY RURAL RESIDENTS, LOANS WRITTEN OR GUARANTEED BY USDA ARE THEIR ONLY MORTGAGE OPTIONS.|
|, Jun 29, 2012
More than 2 million rural Americans have a roof over their heads thanks to USDA’s guaranteed and direct housing loans. For many rural residents, loans written or guaranteed by USDA are their only mortgage options. Mr. Patrick Goheen of Barrow County, Georgia was sharing a home with his brother, (also a guaranteed home loan recipient). When his brother announced the family was expecting a baby, Patrick decided he needed a place of his own. A low credit score seemed to dim Patrick’s dream of homeownership. But with the expertise of knowledgeable housing professionals David Thaxton, of Heritage Realty and Jennifer Sims of Homestar Financial Corporation working in unison with Bert Walker from Rural Development, Patrick was able to reduce his debt and raise his credit score by 40 points to qualify. For Patrick, homeownership is more affordable than renting. Another of Patrick’s brothers is considering USDA for his home buying experience at the end of the year.
Patrick is just one of many rural Americans that USDA has helped in this way. The Obama Administration is committed to ensuring that America’s rural communities are vibrant and thriving economically, and USDA has made an unprecedented commitment to this goal by supporting affordable rural housing. During the past three years, USDA has helped more than 520,000 rural families buy a home.