|Feb 01, 2013 --
Outline Of Need:
Young adults look forward to growing up, maintaining independence, and purchasing their first dream home. Sometimes, there are barriers to overcome to make that dream a reality, especially if you are disabled, live in a rural area, and on a fixed income. And, often the homes that a handicapped person reside in is not readily equipped to accommodate their needs.
How Rural Development Helped:
USDA Rural Development provided a 502 Direct Loan in the amount of $109,250 to help a mobility impaired female purchase a home to accommodate her needs.
The 502 Self-Help Loan program helps low-income households construct their own home. Loans can be up to 38 years for individuals with incomes below 60 percent of the area median income limit and who cannot afford 33-year terms.
Up until five years ago, Decoda Gibson was an independent young adult who loved to play basketball. Because of an illness, she became paralyzed, confined to a wheel chair, and relied on family and friends to assist with daily activities. The apartment she was renting wasn’t handicapped accessible and small. However, that dream still existed. She wanted to purchase a house that would accommodate her needs and allow her to be independent.
An employee, who works with Seventh District Pavilion, a non-profit organization that assists with homeownership opportunities for low-income families, was aware of her need for a handicapped accessible house. He did a pre-qualification and suggested that she apply to Rural Development for funding to construct a new home through the Self-Help Program. She qualified for the 502 subsidized program for a 38 year mortgage to build the perfect home to fit her needs. The monthly payment is only $50 more than what she was previously paying to rent.
Despite challenges and with help from the local USDA Rural Development Lafayette Area Office, Seventh District Pavilion of Crowley, Louisiana, and her devoted family and friends providing the hours of work, Decoda was able to move into an affordable modest three-bedroom handicapped accessible home. She was amazed at all the handicapped amenities, especially the huge roll-in shower, that was incorporated in the new home.
Decoda stated, “I am grateful and thankful for everyone who assisted to help me purchase a home where I can be independent and live on my own. I love my new house!”