|USDA HOUSING INITIATIVE HELPS FAMILY GO BACK TO THEIR ROOTS IN ELGIN, NEBRASKA.|
|, Feb 15, 2013
Going Back To Their Roots
Outline of Need:
Both Chris Richardson and Amanda Schindler were employed in Omaha and wanted to rent a home for their family but a small three bedroom home was close to $1,200 a month. Knowing this and with serious thought, they decided to relocate back home to Elgin, Nebraska to establish roots, be closer to family, find new jobs and purchase the home of their dreams. Yearning to be homeowners instead of renting, the couple researched their options in Elgin and found a big beautiful home but was aged and needed some attention. The costs of purchasing and upgrading were more than they wanted to spend. The needed home repairs included upgrading the electrical, central air and heating systems, replacing the water line and repairing the deck.
How Rural Development Helped:
The journey home began with a visit with Mechele Grimes, Vice President/Real Estate Lender at BankFirst in Norfolk who was able to assist Chris with a housing loan backed by a USDA Rural Development guarantee. Grimes contacted Linda Kastning at Northeast Housing Initiative (NEHI) which offers a purchase/rehab/resale program, to assist the couple with the repair costs.
The journey ended on February 15, 2013 when Chris and his family achieved their dream of homeownership. “The process of relocating, job searching, the loan process and rehabilitation has been well worth the wait. The partnership between BankFirst to offer the USDA Rural Development Guarantee loan and NEHI to offer the rehabilitation and a deferred, no interest down payment loan, allowed us to have the home of our dreams at an affordable cost,” said Chris Richardson
Mechele Grimes, Vice President/Real Estate Lender at BankFirst, said, “Partnerships and projects like this give individuals an opportunity for a good quality of life where they can have a decent home and also revitalize a part of the community. Housing projects like this one provide families with comfortable, safe, and decent living conditions, while also improving and providing a more viable community.”
“USDA Rural Development is pleased to be a part of this partnership, helping rural families realize their dreams of homeownership,” said Nebraska State Director Maxine Moul. “Last year, we were able to help 1,311 households through direct loans and guaranteed loans from lenders like BankFirst.”