DODGEVILLE - The U.S. Department of Agriculture Rural Development office announced the availability of funds for Homeownership and Home Improvement to rural Wisconsin residents.
USDA Rural Development's Rural Housing Programs offer a range of homeownership assistance available to individuals and families who wish to or currently live in rural areas, cities and communities. The program's goal is to provide affordable homeownership opportunities to Wisconsin residents.
The Guaranteed Rural Housing program requires no down payment, and loans are offered at a fixed interest rate for 30 years. GRH loans are financed through participating lenders, such as banks and credit unions, and guaranteed by USDA Rural Development. These loans are available to moderate income individuals and families with the amount of of mortgage limited by repayment ability. There are no restrictions on the size or design of the home.
Direct Single Family Housing Loans are also available at 100 percent financing with no down payment for lower income households. These loans are made directly through USDA Rural Development for a period of 30 to 38 years at an interest rate of 3.75 percent. The payment on the loan is subsidized by the federal government, based on household income. These loans may be made for the purchase of an existing home or new home construction.
For more information, visit www.rurdev.usday.gov/wi.
USDA Rural Development's Rural Housing Programs offer a range of homeownership assistance available to individuals and families who wish to or currently live in rural areas, cities and communities. The program's goal is to provide affordable homeownership opportunities to Wisconsin residents.
The Guaranteed Rural Housing program requires no down payment, and loans are offered at a fixed interest rate for 30 years. GRH loans are financed through participating lenders, such as banks and credit unions, and guaranteed by USDA Rural Development. These loans are available to moderate income individuals and families with the amount of of mortgage limited by repayment ability. There are no restrictions on the size or design of the home.
Direct Single Family Housing Loans are also available at 100 percent financing with no down payment for lower income households. These loans are made directly through USDA Rural Development for a period of 30 to 38 years at an interest rate of 3.75 percent. The payment on the loan is subsidized by the federal government, based on household income. These loans may be made for the purchase of an existing home or new home construction.
For more information, visit www.rurdev.usday.gov/wi.