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News Release
Release No. STELPRD4024030
ContactMike Buethe402-437-5574
Printable Version  Printable Version
(MAY 29, 2014) SIDNEY COMMUNITY MEETING SCHEDULED TO LEARN ABOUT HOMEOWNERSHIP PROGRAMS

    Sidney, Nebraska, May 29, 2014 -- National Homeownership Month is celebrated each June to recognize the importance of homeownership in communities and to families across the nation. In Nebraska, USDA officials will be holding a number of community informational meetings to highlight programs to help rural residents buy or repair homes used as their permanent residence.

    Now may be the time to become a homeowner or to make needed repairs to your home. A public informational meeting is scheduled for June 12, 2014 in Sidney, Nebraska at the Cheyenne County Community Center located at 627 Toledo Street from 12 p.m. –1 p.m. MT to learn if you may qualify for these federal programs.

    Housing plays an important role in creating jobs, maintaining viable rural communities and contributing to the economy. But many families may think they cannot afford a home. Sometimes good credit is not enough as conventional credit may require a substantial down payment.

    “Homeownership should be an achievable dream and in many cases, USDA housing programs provide the only way for rural residents to buy a home or to make needed repairs,” said State Director for Nebraska Rural Development Maxine Moul.

    Rural families can become homeowners with no down payment. Through USDA housing programs, 100% financing is available for home purchases at affordable rates and terms. With the Guaranteed Rural Housing (GRH) loan program, clients work with traditional mortgage lenders who are approved for participation in the GRH program. Interest rates have typically been less than 4.75%. For the Direct loan program, applicants can pre-qualify with USDA Rural Development offices. Rural Development offers a fixed 3.75% interest rate for 33 years, but additional subsidy may be available to as low as 1% for eligible applicants. Eligibility is based on income, acceptable credit and repayment ability and the property must be located in a rural area. USDA also offers home repair loans with interest rates at 1% or homeowners age 62 or older may qualify for a grant if they are unable to repay a loan.

    Since 2000, Rural Development in Nebraska has helped 303 families to become homeowners in Cheyenne County by providing $23.1 million of home loans through its guaranteed rural housing and direct loan programs.

    In Fiscal Year 2013 Rural Development in Nebraska assisted 1,299 families statewide by providing more than $129 million of home loans in through its housing programs.

    USDA Rural Development in Nebraska has more than $120 million available in Fiscal Year 2014, to finance home loan purchases in rural communities.  All communities in Nebraska are eligible for housing programs with the exceptions of Fremont, Grand Island, Hastings, Kearney, Lincoln, North Platte, Omaha and South Sioux City/Dakota City.

    For more information contact the Rural Development office nearest you. You can locate an office by visiting: http://www.rurdev.usda.gov/NE-Contact.html. Visit www.rurdev.usda.gov/ne for information on all of Rural Development’s programs.

    For additional information on RD projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2013. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.

    President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.

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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:11/20/2014 
 
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