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News Release
Release No. STELPRD4020851
ContactEmily Cannon(207) 990-9175
Printable Version  Printable Version
(JUNE 5, 2013) USDA RURAL DEVELOPMENT SEEKS TO INCREASE HOMEOWNERSHIP IN WASHINGTON COUNTY

Bangor, Maine, Jun 05, 2013 --  USDA Rural Development will be conducting a free Homeownership Workshop for residents who are interested in purchasing a home as their primary residence. A representative of Rural Development will be scheduling appointments with members of the general public interested in learning more about how they can become homeowners through programs that assist local families to obtain affordable homes. The Workshop will be held June 12 beginning at 10 a.m. in the conference room of the Machias USDA Service Center, located at 51 Court Street, Machias. Preregistration is required. People interesting in becoming homeowners may contact Sean Thibeau, at 764-4157, ext. 106 or email him at sean.thibeau@me.usda.gov.

USDA Rural Development provides guaranteed or direct financing for approximately
one out of every five homes purchased in the state of Maine
each year. The agency offers has two primary housing programs that assist rural citizens in achieving the dream of homeownership – the Single Family Housing Section 502 Guaranteed Program, and the Single Family Housing Section 502 Direct Program.

Rural Development excels at identifying innovative ways to place families that are below median household income in homes with payments that are affordable. The agency achieves this goal with programs that make Guaranteed Loans through approved financial institutions. One of the most common barriers to homeownership is the need for a down payment. Guaranteed Loans require no down payment, and can finance up to 102 percent loan to value based on the appraisal for a qualified applicant. The Single Family Housing Section 502 Direct Program also offers competitive low-interest loans as low as one percent, with no down payment, and subsidy to eligible residents in rural areas. Through these programs, Rural Development increases people’s ability to improve their capital resources through homeownership. Last Fiscal Year 2,305 Maine families were assisted in the dream of homeownership through USDA Rural Development’s Housing Programs.

USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for all rural Americans. Further information on rural programs is available at the local USDA Rural development office or by visiting USDA’s web site at: http://www.rurdev.usda.gov/ME_Home.html.

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USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).

Last Modified:06/09/2014 
 
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