USDA Workshop for Home Purchase Loans to be held this evening, March 5

By: 
Special to the Reporter
Staff Writer

Do you dream of owning your own home? Did you know USDA Rural Development has loans specifically for low income applicants? Sweetwater Economic Development is hosting a workshop for Nolan County residents to learn about the programs currently available from USDA Rural Development. The workshop will be held at Argos, 209 Oak, Sweetwater on Monday, March 5th from 6:00 pm to 7:30 pm. The meeting, will focus on opportunities available for families and individuals to achieve the dream of home ownership.
Families that are interested in buying their own home and living in rural communities, including anywhere in Nolan county should plan to attend. Discussion will cover the basics of obtaining a loan, how repayment and credit affect loan qualifying and requirements for purchasing an existing home or new construction.
A representative from USDA Rural Development will be available to discuss programs that offer 100% financing for a home purchase. Financing is available at a fixed interest rate, currently at 3.25%. Very low income households may qualify for payment assistance which brings their effective interest rate to as low as 1%.
These affordable rates, with no down payment, make home ownership affordable and may be less than rent.
Rural Development also has home repair loans and grants to repair, modernize or make a home handicapped accessible.
Local residents, realtors, lenders, contractors and anyone wanting to learn more about these programs available through USDA Rural Development are encouraged to attend.

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