|(JUNE 27, 2012) FEDERAL HOME FINANCING ASSISTS WITH HOMEOWNERSHIP OPPORTUNITIES IN RURAL AREAS|
|Duson, Jun 27, 2012
@@June is National Homeownership Month, and the theme for this year’s Homeownership Month celebration is “Now is the Time.”
USDA State Director Clarence W. Hawkins and staff traveled throughout the state this month to celebrate homeownership activities and events to inform rural communities on opportunities available through the USDA Rural Development Housing programs. Today, he stopped in Duson to tour the home of a self-help applicant who worked with Seventh District Pavilion and Little Dixie Community Action Agency to build her own home.
“The Section 502 Mutual Self-Help Housing Loan program is used primarily to help very low- and low-income households construct their own homes,” said Hawkins. The program is targeted to families who are unable to buy safe housing through conventional methods. Families participating in a mutual self-help project perform approximately 65 percent of the construction labor under qualified supervision. The savings from the reduction in labor costs allows otherwise ineligible families to own their homes.
USDA is committed to preserving homeownership in rural America. Rural Development offers rural Americans financial options to purchase homes or repair homes with very affordable terms. USDA Rural Development Guaranteed loans are up 20 percent over year-ago levels, due to the cost of credit.
USDA is helping to build the foundation of a new rural economy that be built on a set of pillars which combine the successful strategies of today and the compelling opportunities of tomorrow. Expanding and preserving homeownership is a major part of the foundation for a stronger, more prosperous rural America.
To find out more about home financing opportunities with USDA Rural Development, contact the Lafayette Area Office, at (337) 262-6601, or visit http://www.rurdev.usda.gov/la. Rural Development’s Louisiana State Office is in Alexandria, and Area Offices are in Monroe, Natchitoches, Lafayette, and Amite.
USDA Rural Development is an equal opportunity lender, provider, and employer.