When one thinks about home, they often think about warm meals on the dinner table, cozying up on the couch, painting the nursery, or even building equity in a place one calls their own. When I think housing- especially new housing: I also think opportunity; I think jobs.
Jobs come from laying foundations, installing windows, and making sure faucets pour water and lights shine bright. Most importantly, jobs go home at the end of the shift, and gather at that dinner table knowing local economies are improving. We have had 75 straight months of private-sector job growth in America, and the housing sector has played its part.
That is good news, but it’s not enough.
Job growth can only continue when employers are succeeding, and public agencies like the USDA’s Rural Housing Service support the work of private property owners, community organizations and local leaders. I’ve come to realize this is especially important in small towns and rural places. To have a dependable, well-functioning housing market, you need a critical mass of capital and housing expertise to keep buyers buying, sellers selling, and local communities growing. If a place does not have enough capital, credit, or investment it will struggle to produce new houses and maintain home values. If a place does not have enough builders, skilled trades, realtors, appraisers, and title companies it will struggle to renovate and replace older housing, let alone build new homes.
USDA has programs built for the needs of rural places. We provide credit and capital when it is in short supply. We support the work of local housing professionals, knowing they are necessary to get the job done. We are making it easier than ever before to use our homeownership programs to build new homes, and therefore create jobs.
For example, USDA has upgraded its Single Family Housing Direct Home Loans and Home Loan Guarantees to help folks who typically cannot afford to own a home, buy affordable homes in rural areas. An individual or family can now use these programs to buy a lot, prepare it for construction, and build a new house all under one affordable mortgage.
We look forward to celebrating Homeownership Month with you this June. You can be certain USDA will continue to work with lenders, law makers, home builders, and home buyers to create affordable housing stock, generate new jobs, preserve existing ones, and ultimately Build Communities Together.
If you, a friend, or a loved one wants to own a home in rural America, but is unsure how to make it financially possible reach out to your local USDA Rural Development office today. We may have an opportunity for you.
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David Lipsetz- You actually need to speak with lenders who have no clue on the USRDA Guarantee Loan.Financial Institutions still make it difficult for consumers to apply for a loan. They still require a high credit score. There are some banks that won't take into account if you have a work injury(they sincerely frown upon that)and which if you were out of work for quite some time(FYI-Workers Comp. Cases do take time to settle). Referencing the USRDA Guarantee Mtge Loan- Some Banks such as Harbor Bank only collect the documents, then send out to USRDA for processing. So, again, kindly research this more accurately.