BISMARCK, ND, Oct 16, 2012 -- USDA Rural Development State Director Jasper Schneider today announced over $61 million for North Dakota housing projects in the 2012 fiscal year. The financing, which ended September 30th, included: direct and guaranteed financing of 417 single-family homes, the supervision of 2,850 rental units and over $3 million in rental assistance to low income tenants.
“Quality housing is the building block of a successful community,” said Schneider. “The ND 2.0 initiative highlighted the need for more housing across the state. Through our USDA housing programs, we have been able to direct resources to address this important issue by providing more rental options and home ownership opportunities.”
USDA Rural Development has several affordable housing programs. The single family housing direct and guaranteed loan programs offer attractive options for low- to moderate-income individuals and families. Through the guaranteed loan program, a loan is made by a local lender and guaranteed by USDA against most loss. Financing is also available for multi-family housing projects which Rural Development supports with rental assistance.
Prior to 1994, USDA Rural Development was known as the Farmers Home Administration. Housing has remained an agency priority as it helps create vibrant, sustainable communities by driving rural economies and building equity in the future. To learn more about the housing programs, please visit www.rurdev.usda.gov/nd or contact the USDA Rural Development office in North Dakota at (701) 530-2037.