Home
Photo Galleries
News Sports Open Forum Obituaries Legal Notices Events

Tuesday | February 19, 2019

SEARCH  

ADVERTISING

Rates
Deadlines
Policy

SUBSCRIPTIONS

Subscribe/Renew
Counter copies
CONTACT US
Letters to the Editor
Our Location

ABOUT US

Staff
Mission Statement
Memberships
Click for Outing, Minnesota Forecast
National Newspaper AssociationMN Newspaper Association

The Northland Press is a legally adjudicated newspaper

USDA Rural Development has home loan and home repair funds

Web posted February 5, 2019
USDA Rural Development has funding availabile for very lowand low-income individuals and families seeking to purchase or repair a home in a rural area.

USDA’s Direct Home Loan Program offers financing to qualified very-low and low-income applicants that are unable to qualify for traditional financing. No down payment is required, and the interest rate could be as low as one percent with a subsidy. Applicants must meet income and credit guidelines and demonstrate repayment ability. Generally, rural areas with a population less than 35,000 are eligible.

The maximum loan amount for repair is $20,000 at a one percent interest rate, repayable for up to 20 years. Grants of up to $7,500 are available to homeowners 62 and older and must be used to remove health or safety hazards, such as fixing a leaking roof, installing indoor plumbing, or replacing a furnace.

Contact a USDA Rural Development employee today in your area to see if you qualify. For more information please contact USDA Rural Development at 7118 Clearwater Road, Baxter, MN 56425 or 218-829-5965 x 4. You can also visit USDA’s website at www.rd.usda.gov/mn.

More Top Stories



Northland Press  |  P.O. Box 145 | Outing, MN  56662  |  (218) 692-5842