Representatives from Rural Development Office at Life Center to Discuss Housing Loans

  • 2022-05-13, 05:00 AM
  • Source: Churchill County
Representatives from Rural Development Office at Life Center to Discuss…
Able to help low-income folks with buying a home, qualifying for home repair loans, grants

Are you a homeowner with low income needing to make home repairs? Or looking to buy a home? If so, representatives from the USDA Rural Development Office will be at the William N. Pennington Life Center on May 25 from 11 a.m. to 2 p.m. to discuss qualifying for programs to allow you to make home repairs or buy a home.

Home Repair Loans and Grants

The USDA Rural Development’s single-family housing home repair loans and grants program provides 1% loans and $10,000 grants to make home repairs or remove health and safety hazards in rural homes for those who qualify based on income. Includes installation and/or repair of sanitary water and wastewater disposal systems as part of a permanent residence.

Eligibility requirements include:

  • Own a single-family dwelling located in a rural area that is in need of repair
  • Meet the income limits based on family size for the area
  • Personally occupy the dwelling
  • Unable to obtain sufficient credit from another source
  • Have adequate repayment ability
  • Meet citizenship or eligible non-citizen requirements
  • Have acceptable credit history
  • Possess legal capacity to incur the loan

Maximum loan amount is $40,000 with a 20-year term for repayment. Top grant amount is $10,000. Eligible applicants for grants must be 62 years of age and unable to repay a 20-year loan at 1% to qualify.

Home Purchase Program

The USDA Rural Development Office provides homeowner opportunities to low-income rural families and individuals through financing with no down payment and at favorable rates and terms. Maximum loan amount for Churchill County is $336,500 with term of 33 years.

Those who are interested in exploring either one of these programs may call the Rural Development Office in Carson City at (775)887-1222 or stop by the Life Center on May 25 between 11 a.m. and 2 p.m. to discuss eligibility and options with Rural Development Office staff who will be on-site.

 

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Source: Churchill County

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