USDA OFFERS KEY TO HOMEOWNERSHIP                                                                                                    

Pittsville, MD June 24, 2005 – USDA Rural Development has been a key player in making the dream of owning a home a reality for many rural Americans.  While most people associate USDA with farm and food safety programs, many are not aware that USDA has been financing home mortgages in rural parts of the nation since 1949.   

“One of the best forms of building equity is through the power of homeownership,” said Marlene Elliott, USDA Rural Development State Director. “Our homeownership programs can make it possible for many people who otherwise would not have that opportunity to obtain a home of their own, a place to raise a family, the chance to build worth, to be a part of a community.” 

USDA Rural Development is celebrating National Homeownership Month by hosting a series of events across the Nation to spread the news about the homeownership programs that they offer.  Today’s ceremony was held at the home of Angela Toffrey who obtained financing through a unique partnership that involves USDA Rural Development, First Shore Federal and Salisbury Neighborhood Housing. The trio works together to provide affordable financing for residents on the lower Eastern Shore of Maryland.   “It was a long process that was well worth it,” said Angela Toffrey.  “Be patient with the system, I started the process last July and it was hard to find a home in Worcester County that was affordable, I ended up looking in Wicomico County and found a home that would meet the maximum mortgage allowed by Rural Development.”                                   

Through the partnership program, USDA provides 80% of the financing with First Shore Federal financing the remaining 20%.   Salisbury Neighborhood Housing prepares the new home buyers by providing them with home buyer education and credit counseling.  The program provides the information needed in order to be a successful homeowner. 

Last year in Maryland, USDA Rural Development helped over 600 families purchase their own homes.  They hope to assist even more this year and encourage rural residents on the Lower Shore to contact their Snow Hill Local Office at 410-632-0616, ext. 4 to determine eligibility.                                                                                     

USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. Further information on rural programs is available by calling their State Office that serves Maryland and Delaware at (302) 857-3580.  TTY users should call (302) 857-3585.   You can also visit their web site at http://www.rurdev.usda.gov.