WASHINGTON, June 3, 2024 – As part of National Homeownership Month, U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced today that USDA is celebrating 75 years of assisting millions in purchasing, repairing, and building affordable homes in rural and Tribal communities.
“For decades, USDA has served as a safety net for hardworking Americans who dream of owning a home but face challenges to doing so,” said Secretary Vilsack. “Now more than ever, people across the nation need access to safe, decent and affordable housing, especially in rural and Tribal communities. The Biden-Harris Administration remains committed to ensuring all Americans have affordable places to live. Therefore, USDA is redoubling its efforts to equip potential homebuyers with resources and information they need to be ready to take full advantage of our critical programs as funding is available.”
This month, the Department is highlighting the ways USDA Rural Development homeownership programs have historically provided opportunities for wealth building and equity creation in rural America and on Tribal lands:
- Since 1949, USDA’s Single Family Housing Programs have helped nearly 5 million families and individuals achieve homeownership.
- Approximately 2.2 million families and individuals have purchased homes through USDA's Single Family Direct Home Loans since the program’s inception.
- The Single Family Home Repair Loan and Grant Program has improved the quality of homes for nearly 455,000 individuals and families since 1950.
- Since 1966, more than 56,000 families have built their own homes with assistance from USDA’s Mutual Self-Help Housing Technical Assistance Grant Program.
The Biden-Harris Administration has invested over $43 billion to assist nearly 266,000 families and individuals in rural and Tribal communities through Rural Development’s Single-Family Housing programs.
USDA is also emphasizing resources available to help potential homebuyers prepare for purchasing a home. These include the Consumer Financial Protection Bureau’s Home Loan Toolkit for learning about homeownership readiness and USDA's Single Family Housing Self-Assessment site for reviewing program eligibility requirements.
For 75 years, USDA has provided affordable financing options for families unable to secure traditional home loans by offering low interest rates, loan guarantees, reduced down payments, and construction grants through Rural Development’s Single Family Housing Programs. Key programs include:
- The Single Family Housing Direct Home Loan Program helps qualified lower-income applicants buy homes with no money down.
- The Single Family Home Repair Loan and Grant Program assists families in repairing and modernizing their homes.
- The Mutual Self-Help Housing Grant Program works with organizations to reduce home purchase costs through participation in construction.
- The Single Family Housing Guaranteed Loan Program partners with private lending institutions to back loans for rural area home purchases.
USDA Rural Development provides loans and grants aimed at expanding economic opportunities, creating jobs, and improving quality of life in rural areas. This support includes infrastructure improvements; business development; housing; community facilities such as schools, public safety facilities, health care centers; and high-speed internet access in rural, tribal, and high-poverty areas.
For further information or updates on USDA Rural Development initiatives visit www.usda.gov or subscribe via the GovDelivery Subscriber Page.
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