direct housing loans

With their family of eight, Myron Doud and Stephanie Richards were in tight quarters when they were living with Myron’s parents in a four-bedroom house.  Like them, Joe and Danielle Donnell and their young one had resided with Danielle’s family.

“Our daughter was very excited about her new bedroom, and she wasn’t even scared to sleep in a room all by herself!” said Stephanie Richards. “The kids now have room to have sleep-overs with their friends and a nice backyard to play.”

These South Dakota families, like many starting out in rural America, just needed a little assistance to begin their lives -- and begin building assets for the future -- as homeowners.  They found the help they needed through USDA Rural Development’s Direct Housing Loan, which offers 100-percent, affordable mortgages to rural homebuyers who cannot access affordable conventional financing.

As part of USDA’s ongoing celebration of National Homeownership Month, I visited several communities bordering Illinois and Missouri last week to meet some of the people whose lives have been changed with homeownership.

Joe and Heather Sumner had been renters in Highland, IL, who needed more space for their growing family. They were struggling to find affordable financing options, until they learned about Rural Development from their real estate agent. They soon qualified for a USDA Direct Housing Loan, and they were able to move into their new home in time for their new baby, who arrived just four days later.  Mrs. Sumner told me they were especially pleased with the amount of house they could afford through the Rural Development program.

Tammye Trevino, Rural Development Housing Administrator, joined me in recognizing two Missouri families in a celebration of reaching the American Dream of homeownership on Monday, June 14, 2010.

Written by Adam Czech, Public Information CoordinatorThere’s a unique story behind each home loan and home repair project financed by USDA Rural Development in Minnesota. On June 9, State Director Colleen Landkamer and her staff visited three homeowners to celebrate June Homeownership Month and learn more about their stories.

When Lela Bunch talks about the prospect of building a new home so she and her children can have a place of their own and more living space, you can hear the excitement in her voice.

Between deciding what trees to plant and selecting new furnishings and appliances, it is clear how much the prospect of owning a home means to her.

And it should, it’s been a long time coming.