04/19/09 — USDA home repair loans available

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USDA home repair loans available

By From staff reports
Published in News on April 19, 2009 2:00 AM

The U.S. Department of Agriculture, Rural Develop-ment, is offering an affordable home repair loan program that can assist low-income homeowners in making needed repairs and improvements.

The USDA program provides 20-year loans up to $20,000 at 1 percent interest to assist low-income homeowners who cannot afford financing from other sources.

Applicants must own and occupy the home in need of repair in a rural area -- those communities with populations of less than 20,000. Eligibility is based on household income, credit history, repayment ability and the inability to afford a conventional loan.

For information, call the USDA Rural Development Office at 2044C N.C. 11 South of Kinston at (252) 526-9799, ext. 4.