USDA celebrates National Homeownership Month

WASHINGTON, DC — As part of National Homeownership Month, U.S. Department of Agriculture Secretary Tom Vilsack recently announced the USDA is celebrating 75 years of helping millions of people buy, repair and build 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,” Vilsack said. “Now more than ever, people across the nation need access to safe, decent and affordable housing, especially in rural and tribal communities … 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.”

USDA Homeownership Programs

For 75 years, USDA has made financing affordable for families who would otherwise be unable to secure a home loan. By providing low interest rates, loan guarantees, reduced down payments and construction grants, Rural Development’s Single-Family Housing Programs have become a vital resource for millions of rural Americans.

These programs include:

• The Single-Family Housing Direct Home Loan Program helps qualified lower-income applicants buy homes with no money down so they can build wealth and equity.

• The Single-Family Home Repair Loan and Grant Program has helped families and individuals repair and modernize homes, and make them safer, healthier places to live.

• The Mutual Self-Help Housing Grant Program has worked with nearly 250 organizations to help families and individuals lower the cost to purchasing a home by participating in its construction.

• 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.

For more information, visit usda.gov.