Today, U.S. Department of Agriculture (USDA) Secretary Tom Vilsack kicked off National Homeownership Month. As part of this nationwide celebration, USDA is highlighting programs that help people in rural and Tribal areas buy, build and repair affordable homes and to pay their rent in America’s smallest towns and communities.
At USDA, we believe that everyone deserves to live in a safe and affordable home. Whether you rent or own, having a place to call home is the foundation for so much else in life. Expanding opportunities for homeownership and rental assistance strengthens rural communities and helps families and individuals build wealth and achieve financial stability.
This month, the Department is highlighting the ways the Biden-Harris Administration has invested $37 billion to help nearly 216,000 families and individuals in rural and Tribal communities buy, repair and build homes through USDA Rural Development’s Single-Family Housing programs.
Over the past year, USDA has added to the resources available to help people access safe, affordable housing in rural areas. The Department recently launched initiatives to increase homeownership on Native lands and help people rebuild after disasters. USDA also has helped thousands of families keep their homes by reducing or pausing their monthly mortgage payments during financial uncertainty caused by the pandemic.
In addition, USDA works to increase access to affordable multifamily rental housing opportunities in rural America. The Department is currently helping nearly 308,000 households pay their rent through rental assistance. This assistance ensures low-income and elderly tenants pay no more than 30% of their income in housing costs. For more information, visit Multifamily Housing Programs | Rural Development (usda.gov).
USDA is also highlighting ways it is working with lenders and community partners to open the door to homeownership for rural Americans who have been unserved or underserved for far too long. USDA is hosting events across the nation to showcase affordable housing programs for lenders, community partners, families and individuals to highlight successes through programs such as:
- The Single Family Housing Direct Home Loan Program provides loans directly to families and individuals so they can buy or build homes in rural America.
- The Single Family Housing Guaranteed Loan Program enables USDA to partner with private lending institutions, backing their loans to help families and individuals buy homes in rural areas.
- The Home Repair Loan and Grant Program provides loans and grants to help families and individuals repair their homes to make them safer, healthier places to live.
- The Mutual Self-Help Housing Grant Program provides grants to qualified organizations to help them carry out local self-help housing construction projects.