NOTE: Robert Canepa, Loan Specialist for USDA will attend the May 21st City Council meeting at 6 p.m.
DAVIS, Calif., February 18, 2016 – Today, United States Department of Agriculture (USDA) Rural Development State Director Janice Waddell encouraged Sierra County residents to learn more about USDA programs available to help purchase and repair homes in rural California.
"Homeownership provides a foundation to help individuals and families build a stronger future. Our programs not only help rural Californians purchase a home, but also make sure homes remain safe places to live," said Waddell. "I encourage anyone that has considered purchasing a home, or who is struggling to make important repairs, to contact my staff to learn more about how we may help."
USDA Rural Development offers mortgages through the Single Family Housing Direct Home Loan Program. Highlights of the program include no down payment, no mortgage insurance, and interest rates as low as one percent for eligible buyers. In Sierra County the maximum loan amount is $243,800, and a family of four can earn up to $56,250.
Existing homeowners may be able to take advantage of USDA Rural Development’s Single Family Housing Repair Loan and Grant program. Loans up to $20,000 are available with one percent interest, and grants up to $7,500 may also be available for homeowners age 62 or older. The program can help with roofing, insulation, electrical systems, accessibility, and even re-drilling domestic wells that have gone dry. The program is restricted to very low-income homeowners; a family of four in Sierra C ounty can earn up to $35,150.
Last year, USDA Rural Development helped 569 homebuyers in rural California purchase a home, and assisted 73 more homeowners with making health and safety repairs to their homes.
Interested applicants should contact USDA Rural Development Specialist Robert Canepa at (530) 885-6505 extension 114 or [email protected]. USDA Rural Development offers over 40 programs supporting housing, community facilities, businesses and infrastructure in rural America.
