CARSON CITY - USDA Rural Development has announced that extra funding is available this summer to help rural homebuyers purchase a home.
USDA home loans provide 100% financing, with no down payment, a low interest rate and up to a 33-year term. The program is available throughout rural Nevada. Urban areas of Clark County, Washoe County and Carson City are not eligible.
This program is designed for working families who cannot afford to purchase a home with a commercially available mortgage. For example, in Humboldt County, a family of four with a combined household income up to $58,700 may be eligible for the USDA Direct Home Loan. Credit, household expenses and employment history will be reviewed to determine eligibility.
"A national pool of housing funds has become available to help us provide loans to rural families," said USDA Rural Development State Director Sarah Adler. "This funding must be obligated by Sept. 30, so I encourage anyone interested in purchasing a home to consider applying now."
Information on the USDA Direct Home Loan in Nevada is available online at http://www.rurdev.usda.gov/nvhousinghol.html
To see if you might qualify, contact Tom Stephens to learn more at (702) 407-1400-Ext. 112 or email him at thomas.stephens@nv.usda.gov.
USDA, through its Rural Development mission area, has an active portfolio of more than $201 billion in loans and loan guarantees.[[In-content Ad]]
