June is not only National Dairy Month, it’s also National Homeownership Month.
“Homeownership provides a strong foundation for hard-working people to build household wealth and climb the ladder of prosperity,” said Acting Assistant to the Secretary for Rural Development Joel Baxley. “By helping rural Americans achieve the dream of homeownership, USDA is supporting benefits that extend far beyond the home, resulting in stronger, more prosperous rural communities.”
USDA Single Family Housing programs have served more than 4.4 million families in rural America since President Truman signed the Housing Act in 1949. Throughout June, USDA employees will celebrate National Homeownership Month with events across the nation that demonstrate USDA’s commitment to provide access to affordable housing for rural Americans.
Rural Development has several programs that support rural homeownership, including:
- USDA partnerships with private-sector lenders to help rural families buy homes. Providing loan guarantees for lenders working with low- to moderate-income families is the key to opening up private-sector homeownership opportunities.
- Direct home loans for very-low- and low-income applicants. Some borrowers qualify for program benefits that effectively reduce the interest rate on their monthly mortgage payments to one percent.
- Repair loans and grants that help people improve access to their homes and remove health and safety hazards.
- Mutual Self-Help Housing Technical Assistance grants are available to nonprofit organizations to help very-low- and low-income families build their own rural homes.