PRess release
USDA Rural Development
1303 SW First American Place, Suite 100, Topeka, KS  66604-4040
VOICE (785) 271-2700, FAX (785) 271-2708, TTY (785) 271-2767, WEB www.rurdev.usda.gov/ks

For Immediate Release –  April 10, 2003

Contact- Harold Alford  (785) 271-2701

USDA Rural Development Increases
Home Loan Limits

Topeka, KS. – USDA Rural Development State Director Chuck Banks announced today that mortgage limits for the Rural Housing Direct Loan program have increased effective March 24, 2003.  These higher mortgage levels will enable families to select from a wider range of available housing and will make new construction a more viable alternative where needed. 

Rural Development mortgage limits now range from $100,000 to $152,300 across Kansas.  The new mortgage levels are individually set for each county. 

USDA Rural Development invested $44,625,000 in rural Kansas through its Rural Housing Direct Loan program for Fiscal Years 2000-2002.  During this period, Rural Development brought homeownership opportunity to nearly 800 Kansas families.

The Rural Housing Direct Loan program provides loans that assist eligible households to purchase a home located in a rural area.  Qualifying applicants may obtain 100 percent financing to purchase an existing dwelling, purchase a site and construct a dwelling, or purchase newly constructed dwellings located in rural areas.  Rural Housing Direct Loans allow financing at reasonable rates and terms, mortgage payments based on the household's adjusted income, and require no down payment. 

Rural Development is the economic development agency for USDA, and the lead federal entity for rural development.  For additional information, you may log onto the state's Rural Development website at: www.rurdev.usda.gov/ks, or e-mail the Agency at 2002farmbillRD@ks.usda.gov

USDA Rural Development is an Equal Opportunity Lender, Provider and Employer.  Complaints of discrimination should be sent to USDA, Director, OCR, Washington, D.C. 20250-9410.

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