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USDA Builds Communities with Lenders

Posted by Tony Hernandez, USDA Rural Housing Service Administrator in Conservation Rural
Feb 21, 2017
Rural families become homeowners
Rural families become homeowners. Click to enlarge.

It’s been 25 years since USDA guaranteed the first home loan in Donalsonville, Georgia. The home itself was a modest spot nestled into the tiny little village in rural Georgia. To an outsider this home may look non-descript, but to the family who moved in 25 years ago, owning this home was a dream that seemed impossible before they found out USDA and their small town lender could work together to make their dream become reality.

25 years later, USDA has worked with thousands of lenders big and small to help 1.48 million families just like the first in Donalsonville buy modest homes in rural America. USDA Home Loan Guarantees are so important to hard working folks who want to settle down in rural areas. This program is the golden example of the private and public sectors coming together to make this opportunities for a better life accessible for all.

The need for this private-public collaboration is still great across the nation. The program itself has grown exponentially since we made that first guarantee. In 1991 USDA helped 633 families realize their dreams of homeownership; just last year we guaranteed 132,967 home loans made by more than 2,800 lenders across the country.

In perspective, that’s 132,967 kitchens to cook family meals in, 132,967 living rooms where families can laugh and be together, 132,967 dining room tables for kids to do their homework, 132,967 opportunities to build household wealth, start a business, or fund education. 132,967 dreams realized just in 2015.

I couldn’t be more proud to say that since 2009, USDA and our lender friends have helped 1 million families access the opportunity to buy their own home in rural America.

Thank you to the thousands of lenders across the country who have made each one of these successes happen in the last 8 years. We are building rural communities together one home loan at a time.

Category/Topic: Conservation Rural

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Comments

Joan
Jun 07, 2016

Tony's statement where Lenders are more likely to assist first time home buyers is not true.There are lenders that are not pro-active in assisting by telling the.perspective buyer that their bank is not familar with USRDA Guaranteed.Loan.Some lenders.would even flat out tell you that they.can't assist.Credit Unions will tell you.on a guaranteed loan.will.tell you that they send out the application.for processing,not so!!